Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to employ an accountant, performing the task on yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? What Does TaxJar Use Restsharp For
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax software is compatible with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income The team will guide you on how to handle them. It is up for you and your team to finish the tax returns on time. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your staff will have access to all the information you need, like a list of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let to know the amount you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax in your business. You can also export the information to the form of a CSV file, if you want to use it for your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything related to sales tax. You can look through their guides, webinars, and blog for more information. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business manager, the plan could be perfect for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add 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 their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. What Does TaxJar Use Restsharp For
But they did state that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to determine whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you do, then you should try this.
Not only can it aid in tracking the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around the subject. What Does TaxJar Use Restsharp For
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ What Does TaxJar Use Restsharp For
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.
