Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, making it your own could be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar Maryland Sales Tax TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to gather data from different channels and sort it into one platform. All you have to do is connect TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. But, it is up to you and your team to complete everything on time. TaxJar will only guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there 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 greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the total sales tax for your business. You can also export the information as CSV format. CSV file if you need it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also all things connected to sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale business owner, this plan should be ideal for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it 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. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to opt for an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. Maryland Sales Tax TaxJar
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax 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
Cons
- 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue It can also help you meet your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this will surely help you wrap your head around it. Maryland Sales Tax TaxJar
But if handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ Maryland Sales Tax TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as 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.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD before TaxJar can calculate the tax.
