Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant doing it on your own can be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? Does TaxJar Remit Taxes
In 2013, TaxJar was established. 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. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage these. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export your data to the form of a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something different from the basics and options, 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.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose an upgrade instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrationsfor team members and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. Does TaxJar Remit Taxes
But they did state that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to 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 out TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you ought to try this.
It’s not just a way to help you track the sales and profits of your business however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. Does TaxJar Remit Taxes
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete then you’re better in doing it all by yourself.
FAQ Does TaxJar Remit Taxes
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with 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. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.