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If you import from Square, but your item prices in square included the sales tax in the price (instead of adding sales tax as a separate line), how to now add sales tax?

Example: My bag of dog treats in Square was imported as a set item with a cost of $12.  This $12 was a flat rate that included sales tax.  I did not have Square calculate and add on the taxes.  So now Square cannot correctly calculate the taxes I collected (& paid).  How can I enter the total tax amounts i collected through Square so I can report accurately and get the proper tax deductions?
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4 Replies
ee-ea
Level 15

If you import from Square, but your item prices in square included the sales tax in the price (instead of adding sales tax as a separate line), how to now add sales tax?

What is the sales tax rate you charge?

 

If you import from Square, but your item prices in square included the sales tax in the price (instead of adding sales tax as a separate line), how to now add sales tax?

8.9% (Broken down into state, city, county and transportation)

ee-ea
Level 15

If you import from Square, but your item prices in square included the sales tax in the price (instead of adding sales tax as a separate line), how to now add sales tax?

Multiply total charge by  .91827 to find price.

$12 x .91827=     $11.02  price

$11.02 X 8.9%=  $     .98  tax

                              $12.00    total

 

Sales tax is  total charge x .081726

If you import from Square, but your item prices in square included the sales tax in the price (instead of adding sales tax as a separate line), how to now add sales tax?

How did you get the .91827?

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