Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant doing it on your own could be dangerous. If you make a mistake 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 always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar How To File Florida Sales Tax
In 2013, TaxJar was established. 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 in all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform is compatible along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to handle the tax returns. It is up for you and your team members to complete the process on time. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals in your business. Additionally, you can export your data to a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operating costs.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional information. Apart from that the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan will be ideal for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the basics Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to go for an upgrade instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrations, team users and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar How To File Florida Sales Tax
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for 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 looking into other options, they have 30 days of free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business however, it will help you meet the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to 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 can certainly help you to get your mind around it. TaxJar How To File Florida Sales Tax
However, if managing your taxes is simple, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ TaxJar How To File Florida Sales Tax
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate your tax.