Posts Tagged ‘sales taxes’

Too Many QuickBooks Items

QuickBooks items are one of its most powerful features, if used correctly and wisely. If you use QuickBooks, perhaps you have encountered one of the following issues with items:

  1. You have exhausted or are close to exhausting the list limits
  2. You have so many inventory or non-inventory item numbers that you are overwhelmed

Here are some thoughts on using items in QuickBooks that may save you some headaches.

Know the Limits of Items

Each version of QuickBooks has limits for list. For example, in QuickBooks Pro 2014 the limit for item lists is 14,500. That means that the total of Read the rest of this entry »

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Calculating Internet Sales Taxes

In an earlier blog (Internet Sales Taxes) we looked at where the U.S. stands on implementing sales taxes for internet sales in states where the seller lack nexus. The bill passed by the Senate (Marketplace Fairness Act) is intended to level the playing field for brick and mortar and internet businesses and address tax concerns expressed by states. That discussion touched on what the impact would really be and whether it actually did level the playing field. Again, this bill now Read the rest of this entry »

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Internet Sales Taxes

By a vote of 69-27 the U.S. Senate has passed a bill called the Marketplace Fairness Act which allows states to collect sales taxes from online sellers whose out of state sales are $1 million of more. Whether the House of Representatives also will pass it is yet to be determined. There are pros and cons about the bill.

Some Pros

It is indeed true that states have not been able to collect internet sales taxes on Read the rest of this entry »

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