Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to hire an accountant, performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite a long read it is possible to gauge whether TaxJar is what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Michigan
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 all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. 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 lets you display your most important data in one location. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to handle these. But, it is up for you and your staff to finish the tax returns in time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your team can access everything you require, including the list of transactions, reports, as well as data.
The most appealing aspect of this feature is that they allow you to update automatically every day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export the data as CSV format. CSV file in case you require it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition the sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Michigan
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers 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 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 to USA customers.
- Owners and accountants should 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 that’s what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they have the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and obligation you have to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Michigan
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Michigan
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate the tax.