Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, making it your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy, you should be able to determine if TaxJar is the tool you require today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Registering For State Tax In Florida
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure is your tax-reporting software is compatible along with sales funnels. If you’re selling through multiple 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 allows you to display your key metrics in one place. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on how to manage these. But, it is up for you and your team members to complete the process in time. TaxJar is there to guide you on what you should do , but not to handle it.
If you would 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 tax in order to record and process it. There could 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 help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let to know the amount you’ve earned however, they can also help you track when your following payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. Additionally, you can export your data as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. 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 everything related to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally, their 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 are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan should be ideal for you. It might not include all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get that is more than the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Registering For State Tax In Florida
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. This should be 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 must know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that’s what you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Registering For State Tax In Florida
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Registering For State Tax In Florida
What areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate the tax.
