Taxes have always been among the hardest things to do regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to employ an accountant, doing it on your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is a long read it is possible to determine if TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at 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, then let’s get right into it.
What exactly is TaxJar? How To File Sales Tax In Florida TaxJar Youtube
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to manage them. It is up to you and your team to complete the process in time. TaxJar is there to guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need 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 it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, and data.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export the information in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this function will aid them in being 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 be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, and blog for more info. Additionally the sales tax calculator is 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 offer superb features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as 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 business owner, this plan will be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking to get different from the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to opt for the Premium plan instead. It includes all of the features you need to help with your taxes. In addition, they offer 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 the price of the Premium plan. is going to cost. How To File Sales Tax In Florida TaxJar Youtube
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. In order to sum up the whole thing, 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 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 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 be able to access the API feature.
- Only applicable 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 numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will certainly help you to get your mind around it. How To File Sales Tax In Florida TaxJar Youtube
But if handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do, you might be better in doing it all on your own.
FAQ How To File Sales Tax In Florida TaxJar Youtube
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect 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 currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar determines your tax.