Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the budget to hire an accountant, making it yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Florida Sales Tax
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. In our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to handle them. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce 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 the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. You can also export the data to CSV format. CSV file if you need it for 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 the track of all the channels you sell through. This means that you don’t have to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides and blog for more info. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing 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 these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan should be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for a bit more than just the basics Professional might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have their support 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 go for an upgrade instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data, API integrations, team members and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Florida Sales Tax
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must 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 to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on 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 check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking your products and revenue It can also help you meet the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Florida Sales Tax
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
FAQ TaxJar Florida Sales Tax
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, 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 to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate the tax.