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0
votes
2answers
153 views

How is tax avoidance on home purchasing avoided with Fair Tax implementation?

Under the proposed Fair Tax, we would no longer have an income tax and instead move to a federal sales tax. On an ongoing basis this results in approximately the same tax revenue, in theory of ...
0
votes
0answers
37 views

UK VAT Rounding issue

I calculate VAT per line on invoices. Manager sets prices in gross instead of net so occasionally come across rounding issues like the follow: 9.375 + 1.875 = 11.25 Displayed as 9.38 + 1.88 = 11.25 ...
1
vote
1answer
73 views

Sales taxes to apply for a Canadian company selling digital subscriptions

Let's say I have a web service that is a mail server (I cloned gmail). People pay me 10$ per month to use it. My business in located in Canada. When a Canadian resident sign up, I have to charge local ...
0
votes
1answer
245 views

Do I need to pay tax on my unregistered online 'business'?

Let's say I have an online store. I sell things and receive revenue. It is profitable. Its server is somewhere in USA. I am currently in Germany. My customers are mostly in, say, Thailand. I have not ...
1
vote
2answers
413 views

Where to find Amazon Canada's GST/HST Number? Wasn't on invoice emailed to me

I have a small business registered to collect GST/HST. I purchased a product from Amazon.ca, and they charged me HST. However, the invoice they emailed me did not contain the HST/GST, or Business ...
0
votes
1answer
166 views

How do I calculate sales tax to many items? [duplicate]

I'm wondering how to calculate sales tax when this situation. Item price is 14.97 and quantity is 7. Sales tax is 9%. 14.97 * 7 * 0.09 = 9.4311 = 9.43 14.97 * 0.09 = 1.3473, rounding up: 1.35 * 7 = ...
5
votes
3answers
676 views

Is buying or selling goods for gold or silver considered taxable?

Is buying / selling goods for gold / silver taxable? If yes, what's the rationale behind this?
4
votes
1answer
468 views

Do I need to collect GST/PST for providing software services to companies outside of Canada?

I have a corporation registered in BC, Canada. I provide custom software development services to companies outside of Canada. Do I need to collect GST/PST ?
3
votes
1answer
220 views

Do classes have to pay sales tax on materials used?

My friend teaches flower classes, a portion of the total amount charged goes for materials and a portion goes for the actual teaching of the class. If a typical class costs someone $100, $50 of that ...
1
vote
3answers
5k views

Sales Tax: Rounded Then Totaled or Totaled Then Rounded?

E.g. There is a sale with 3 items, each costing $1.00. Sales tax is 12.4%. In calculating the tax for each item, do I round the tax amount first and then total everything up? Like this: ITEM 1: $1.00 ...
8
votes
3answers
7k views

Is sales tax for online purchases based on billing- or shipping address?

My question is simply clarification: when I make a purchase online, is the sales tax applied based on my billing or shipping address? Possibly similar (possibly illegal?) but with no up-voted or ...
0
votes
1answer
409 views

How do I deduct from Sales Tax Payable in Quickbooks?

(This question could probably use a better title) My current process for paying sales tax works as follows: I collect payments against invoices from clients throughout the month As I collect these ...
0
votes
1answer
192 views

Sales taxed amount in Accounts Receivable?

When I enter a new invoice for a client, for example $1062.50 ($1000 + MA sales tax) do BOTH Accounts Receivable AND Sales Tax Payable go up by the following? Accounts Receivable +1062.50 Sales Tax ...
5
votes
4answers
1k views

how do i get an out-of-state billing address for a credit card?

When I buy virtual items online that do not need to be shipped, sales tax is often calculated by the merchant automatically based on my credit card billing address. My billing address is in ...
1
vote
1answer
157 views

Can I skip Sales Tax Payable and just transfer directly to dedicated bank account?

I am trying to account for sales tax. I just totalled up a Quarter of sales tax and normally, I would create an entry like: Debit "Business Income Checking Account" (true checking account) Credit ...
5
votes
2answers
399 views

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging ...
2
votes
2answers
79 views

Accounts Receivable included in Gross Sales?

I am trying to determine my sales tax. In a given quarter, let's say I close a deal for $2000 and collect $500 as a deposit. Which number is considered in my "Gross Sales", the $2000 or the $500? ...
1
vote
2answers
4k views

How do I get a Tax Exemption Certificate for export from the US if I am in another country?

I live and have a company in South America. Most of my raw materials are from USA. When I purchase these raw materials I'm paying their cost plus tax. Is that correct? When I asked my providers why I ...
2
votes
1answer
643 views

Is sales tax charged on checked baggage fees?

When I buy airplane tickets online, I pay for associated taxes at the same time. But if I have luggage to check, that's a separate cost that gets added when I check in. Should I expect to pay ...
2
votes
2answers
113 views

How to deal with PA sales tax for item bought on behalf of my customer and resold to them?

I work for myself and at times buy a piece of software or something for someone I am working for. Like my title says, I live and work for people in PA. If I pass the product on to my customer at ...
6
votes
1answer
327 views

How does a Value Added Tax (VAT) differ from a Sales Tax?

A common trend by many governments has been to introduce a Value Added Tax to replace a Sales Tax (as evidenced by the multitude of HST related questions on this site). How do these types of taxes ...
2
votes
1answer
119 views

When does the HST impact pre-purchased services in Ontario? [Canada]

Some services will be impacted earlier than July 1, 2010. What services are impacted and what date does the full 13% get charged?
4
votes
1answer
993 views

Ontario HST rebate: When would I qualify?

I turned 18 in January 2010 and I filed a 2009 income tax return. When will I qualify to receive the rebate?
5
votes
3answers
3k views

Travelled to New York State & bought something. Can I get sales tax refund back?

I drove to Buffalo, NY over the weekend with some friends, and I bought myself a shiny new Apple iPad. I had to pay New York State sales tax at the Apple Store, as well as declare my iPad purchase at ...
1
vote
1answer
78 views

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?
4
votes
2answers
6k views

Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010?

When the HST comes into effect on July 1, 2010 will gas prices at the pump be affected immediately?
4
votes
1answer
272 views

How can I minimize the impact of the HST?

HST is being introduced in both Ontario (see this question) and B.C., does anyone have suggestions for how to reduce its impact on individuals?
5
votes
3answers
34k views

When does Ontario's HST come into effect?

When does the HST become effective? Will all businesses start charging HST right away, and will it replace the 5% GST with a straight 13% tax for all services?