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 a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to engage an accountant doing it on yourself can be dangerous. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
What can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. Even though this is a long read it is possible to assess whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar How Do I Remit Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system is compatible with your sales channel. If you have multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows customers to submit their sales tax either manually or via TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. However, it will be up for you and your staff to finish the tax returns 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 – that means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports and data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payments are due.
The dashboard allows you to see the total sales tax within your company. Additionally, you can export the information as a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but everything related to sales tax. Check out their guides, webinars, and blog for more information. Apart from that, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for premium plans instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal how much the Premium plan costs you. How Do I Remit Sales Tax TaxJar
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require 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 considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will definitely help you get your mind around it. How Do I Remit Sales Tax TaxJar
If handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire process easy to do, you might be better to do it on your own.
FAQ How Do I Remit Sales Tax TaxJar
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.