Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do ?
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. Although this is quite a long read, you should be able to gauge whether TaxJar is what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Florida Sales Tax How To File Youtube
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. 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 not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. That way, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income, the team will instruct you on how to handle them. However, it will be up to you and your staff to complete everything on time. TaxJar will only provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, such as the list of transactions, reports, as well as data.
The best part about this option is the fact that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows users to view in detail the total sales tax in your business. It is also possible to export the data to a CSV file if you need it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function 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 be aware of the budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can look through their webinars, guides and blog for more details. Apart from that the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller business proprietor, then this program should be ideal for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking to get that is more than the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to choose an upgrade instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as 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. costs you. TaxJar Florida Sales Tax How To File Youtube
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is a good fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to 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 applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar Florida Sales Tax How To File Youtube
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar Florida Sales Tax How To File Youtube
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.