Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, making it your own could be risky. If you overlook one thing it could mean you need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular 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 the tool you require right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar? Florida Sales Tax TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. For this review, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income The team will guide you on managing them. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax in order to record and process them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. They not only let you keep track of how much you’ve collected, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the overall sales taxes in your business. It is also possible to export your data to CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. Check out their webinars, guides, or blog posts for additional info. Apart from that, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan should be ideal for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the basic features Professional may be the best option for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for premium plans instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrations, team members and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. Florida Sales Tax TaxJar
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different 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 looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of making use of TaxJar for your company.
- 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.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it help you track your revenue and products however, it will help you meet the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to 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 regulations, this will definitely help you get your head around it. Florida Sales Tax TaxJar
However, if managing your taxes is straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ Florida Sales Tax TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate the tax.