Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can help you. While this is a long read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar Michigan Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key data in one location. That way, there’s no need to gather information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar, it will handle all 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 customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to manage them. But, it is up to you and your team members to complete the process within the timeframe. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you would 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. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you require, including the list of transactions, reports and information.
The best part about this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve earned, but they also help you determine when your next payments are due.
Their dashboard also allows you to see the total sales tax in your business. You can also export the data in a CSV file in case you require it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can check out their webinars, guides and blog for more info. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan could be perfect for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for a bit more than just the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up if you add custom 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. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrationsfor team users and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Michigan Sales Tax TaxJar
But they did state 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 see if this platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you need to be aware of 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 company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can certainly help you to get your mind around it. Michigan Sales Tax TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with 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 in doing it all by yourself.
FAQ Michigan Sales Tax TaxJar
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines the tax.