Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to hire an accountant, making it yourself can be risky. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? Filling Out Florida Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting system is compatible along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In the purpose of this article, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to manage these. It is up for you and your staff to complete the process on time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals for your business. Additionally, you can export the data in CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but for anything related to sales tax. You can check out their webinars, guides, and blog for more info. Additionally, their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program could be ideal for you. It might not include all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something different from the standard features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to go for an upgrade instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. Filling Out Florida Sales Tax 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.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will certainly help you to get your head around it. Filling Out Florida Sales Tax TaxJar
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you’re finding the entire process easy to do then you’re better off doing it on your own.
FAQ Filling Out Florida Sales Tax TaxJar
What areas does TaxJar offer API support?
TaxJar currently works with 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 for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines your tax.