How To Set Up An Invoice For A Sales Tax Audit
When issuing invoices to clients, it is imperative to break out the charges clearly. For example, if you have charges for shipping, installation, or training, you must state each of them separately. Otherwise, the entire invoice amount may become taxable. Poor vs. Proper Invoice Examples Example 1: A Poorly Written Invoice Quantity Item Price Total […]
How To Determine Nexus In Dropshipping
Overview of Dropshipping Nexus In a dropshipping setting, keep in mind that there are three main players involved: General Rule for Sales Tax Sales tax is collected at the end-state of the sale, where the customer resides. Note:If the Dropshipper has Nexus, but the Seller does not, then the seller does not charge sales tax […]
Tire Shop Sales Tax Audit
Sales Tax Audit for Tire Shops The most common problems that arise during sales tax audits for tire shops pertain to the following issues: 1. Bring Your Own Part (BYOP) If your customers are bringing in their own parts for you to simply install, it must be clearly noted as such on your invoices. Important:If […]