Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, performing the task on your own could be risky. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is an extensive read it is possible to determine if TaxJar is the tool you require today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? Does Anyone In Florida Use TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar, then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on managing the tax returns. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating sales taxes to recording and processing them. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, such as an inventory of your transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the data in a CSV file in case you require it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can check out their webinars, guides and blog for more details. Additionally, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as 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 small-scale business manager, the plan will be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to choose premium plans instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. Does Anyone In Florida Use TaxJar
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to determine whether the service is a good fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can help you meet the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this can definitely help you get your head around it. Does Anyone In Florida Use TaxJar
But if handling your taxes is straightforward, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ Does Anyone In Florida Use TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to US$ before TaxJar will calculate the tax.
