Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to employ an accountant, performing the task on your own can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. While this is lengthy it is possible to assess whether TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar How To File Florida
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. This means that there is no requirement to collect data from different 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 that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income, the team will instruct you on how to manage them. It is up for you and your team members to complete everything on time. TaxJar will only help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing them. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to everything you require, including a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only will they let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the total sales tax for your business. It is also possible to export your data in CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates 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 operational expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides, and blog for more details. In addition their sales tax calculator can be helpful if you’re planning on 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 look into TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It might not include all of TaxJar’s features, but it has 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 for something different from the basic features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do 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 opt for an upgrade instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar How To File Florida
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
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 do, then you should try this.
Not only can it help you track the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar How To File Florida
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar How To File Florida
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, 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 to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in US$. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar determines the tax.