Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have enough money to engage an accountant making it your own could be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But since it’s required, we have no choice.
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 tool and explain how it can help you. Even though this is a long read it is possible to assess whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? Fl 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. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting system is compatible with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you have to do is integrate TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. For this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle these. It is up to you and your team members to finish the tax returns within the timeframe. TaxJar will only provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, such as the list of transactions, reports, as well as data.
The best part about this option is the fact that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. It is also possible to export your data as a CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides, or blog posts for additional information. Additionally the sales tax calculator is useful if 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 establish your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale company owner, this plan will be ideal for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get that is more than the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. Fl Sales Tax TaxJar
But they did state that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is 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
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only can it help you track the sales and profits of your business It can help you meet your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your head around the subject. Fl Sales Tax TaxJar
If handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ Fl Sales Tax TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.
