Taxes have always been one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. While this is an extensive read it is possible to determine if TaxJar is what you need today.
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 the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar? TaxJar Florida Taxes
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. 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 critical metrics in one spot. That way, there’s no requirement to collect data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making 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 TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns The team will guide you on managing them. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you require, including the list of transactions, reports, and data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export your data to a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can look through their webinars, guides or blog posts for additional info. Additionally the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with the tax on sales, 4 autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the standard features Professional could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do 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 the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Florida Taxes
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different in line with 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 considering different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include 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
- Offers a 30-day free trial
- 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 be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products 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 get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation 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. TaxJar Florida Taxes
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Florida Taxes
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.