Taxes have always been among the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is lengthy, you should be able to determine if TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? Walmart TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to manage them. It is up for you and your staff to finish the tax returns on time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team can access everything you require, including an inventory of your transactions, reports, as well as information.
The most appealing aspect of this feature is that it lets you to update your account automatically each day. They not only let you know how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax in your business. You can also export your data as CSV format. CSV file if you need it in your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their webinars, guides and blog for more information. In addition their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb 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 options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan to help you in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan should be perfect for you. It may not offer all the features offered by TaxJar but it comes with 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 tools.
If you’re looking for that is more than the basics, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to go for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal how much the Premium plan costs you. Walmart TaxJar
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking your revenue and products It can also help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. Walmart TaxJar
But if handling your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete then you’re better to do it by yourself.
FAQ Walmart TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate the tax.