Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is a long read it is possible to determine if TaxJar is what you need right now.
Do you prefer 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, let’s dive right in.
What is TaxJar? TaxJar Michigan Sales Tax
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax system perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar it will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For our review we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on managing these. It is up to you and your team members to complete the process on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as the list of transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to see the sales tax totals in your business. You can also export the information as the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accountant, this 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 know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. You can check out their webinars, guides and blog for more details. Apart from that, their sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program could be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Michigan Sales Tax
However, they did mention that the plan is custom-made 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 see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. 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 the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online 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
Cons
- 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.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it help you track your revenue and products It can help you meet your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Michigan Sales Tax
However, if managing taxes is easy and straightforward, then TaxJar might not be a good expense. If you only have 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 to do it by yourself.
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FAQ TaxJar Michigan Sales Tax
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar can calculate the tax.
