Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant performing the task on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
So what can we do ?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Michigan Sales Permit
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that require 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 businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax system seamlessly works well with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on one 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 in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to manage these. However, it will be up for you and your staff to complete the process on time. TaxJar will only help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of this feature is that they allow you to automatically update every day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. Additionally, you can export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also all things related to sales tax. You can check out their guides, webinars, or blog posts for additional details. Additionally, their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business owner, this plan should be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to choose an upgrade instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Michigan Sales Permit
But they did state that this plan is customized to each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform 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 Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it help you track your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep track of every deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Michigan Sales Permit
However, if managing your taxes is straightforward and straightforward, 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. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Michigan Sales Permit
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate the tax.
