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New Member
posted May 17, 2021 8:52:16 PM

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?

0 4 1469
4 Replies
Level 15
May 17, 2021 9:09:12 PM

What is the sales tax rate you charge?

 

New Member
May 17, 2021 9:12:11 PM

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

Level 15
May 17, 2021 9:33:01 PM

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

New Member
Sep 6, 2023 9:10:48 AM

How did you get the .91827?