Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, performing the task on your own can be risky. If you miss one detail it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is a long read it is possible to determine if TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Florida Sales Tax On Digital Sales
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across 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 can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting software is compatible with your sales channel. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar, then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. In this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up to you and your team to complete the process on time. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing 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 mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports and the data.
The best part about this option is the fact that they allow you to update automatically every day. Not only can they help to know the amount you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes within your company. Additionally, you can export the information in the form of a CSV file if you need it in your process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something 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.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for premium plans instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrationsfor team users, and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Florida Sales Tax On Digital Sales
But they did state that this plan is customized for every user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can 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
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you save more time while keeping track of every deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar Florida Sales Tax On Digital Sales
If handling your taxes is simple, 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 all of it. Moreover, if you find the whole process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Florida Sales Tax On Digital Sales
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate your tax.