Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, making it yourself can be risky. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
What can we do ?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. While this is an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Florida Sales Tax Permit Waiver
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather information from multiple sources and then organize it on a single 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 help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle them. However, it will be up to you and your team members to complete everything in time. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not included in the plan you select.
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 through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports, and information.
The best part about this feature is that it lets you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. It is also possible to export your data to CSV format. CSV file in case you require it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also for anything 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 beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan to help you in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan could be ideal for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get different from the basics Professional might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for the Premium plan instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations, API integrations, team users and AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Florida Sales Tax Permit Waiver
But they did state that this plan is tailor-fit for every user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to see whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your mind around it. TaxJar Florida Sales Tax Permit Waiver
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Florida Sales Tax Permit Waiver
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into 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 using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar will calculate your tax.