Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant doing it on yourself can be risky. If you miss one detail, you might have to do it all over 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 make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. While this is a long read it is possible to assess whether TaxJar is the tool you require right now.
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.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Maryland Sales Tax
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that can take 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 as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. This means that there is no need to gather information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax either manually or via TaxJar’s 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 The team will guide you on how to handle these. It is up to you and your team members to finish the tax returns on time. TaxJar will only help you understand what you need 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. With this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as an inventory of your transactions, reports and information.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the sales tax totals in your business. You can also export the information to a CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this function will help them be 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 available for other operational expenses.
The best part is that TaxJar offers training and tutorials, not just on their platform, but for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition the sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan could be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics and options, then the Professional plan might be the right one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to go for premium plans instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team members and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Maryland Sales Tax
But they did state that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the software is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of using TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to help you track your revenue and products, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Maryland Sales Tax
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do, you might be better off doing it by yourself.
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FAQ TaxJar Maryland Sales Tax
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.
