Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? Florida Sales TaxJar Video
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to 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 simplifies the processes that can take days to complete, and finish within 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 ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar, it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For this review, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to handle these. However, it will be up for you and your team members to complete the process on time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that 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 in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, as well as information.
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 accumulated, but they also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals for your business. It is also possible to export the data in a CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform but everything that has to do with sales tax. Check out their webinars, guides and blog for more info. Additionally the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan could be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basics, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data API integrations, team members and AutoFiles.
They also have a staff who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Florida Sales TaxJar Video
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It’s also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your mind around it. Florida Sales TaxJar Video
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
FAQ Florida Sales TaxJar Video
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it to USUSD before TaxJar will calculate your tax.