Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to employ an accountant, performing the task on your own can be risky. If you make a mistake it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? View Transactions Added To TaxJar Via Api
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no requirement to collect information from multiple sources and sort it into one platform. All you need to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on managing these. It is up to you and your team members to complete everything within the timeframe. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you require, including an inventory of your transactions, reports, and the data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. It is also possible to export the data in CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more details. Apart from that the sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company manager, the plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get different from the standard features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge the price of the Premium plan. costs you. View Transactions Added To TaxJar Via Api
However, they did say that this plan is tailor-fit for every user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your mind around it. View Transactions Added To TaxJar Via Api
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do, you might be better off doing it by yourself.
FAQ View Transactions Added To TaxJar Via Api
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar determines your tax.