Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, performing the task on your own could be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So what can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Even though this is a long read, you should be able to gauge whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Michigan Annual Sales Tax
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax platform is compatible along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. That way, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to manage them. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to everything you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals within your company. Additionally, you can export your data in the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. You can check out their guides, webinars, or blog posts for additional information. In addition, their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan will be perfect for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Michigan Annual Sales Tax
However, they did say that this plan is tailor-fit for each user. So the costs will vary according to what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Michigan Annual Sales Tax
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Michigan Annual Sales Tax
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar determines your tax.
