Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant performing the task on your own could be risky. If you miss one detail it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is the tool you require right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Florida
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on managing the tax returns. But, it is up to you and your team to complete the process on time. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team can access everything you need, like a list of your transactions, reports, as well as the data.
The best part about this feature is that it allows you to automatically update 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 keep track of when the next payments are due.
The dashboard allows users to view in detail the sales tax totals in your business. You can also export the data in a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator should be 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. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan will be perfect for you. It may not have all the features of TaxJar, but it has the basic features you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team users and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Florida
However, they did mention that this plan is customized for each user. So the costs will vary according to what you require to run your business.
Luckily, 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. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using 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 regulations, this will surely help you wrap your head around the subject. TaxJar Florida
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Florida
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.