ebs Associates Blog

Small Business Accounting & Technology

The Beginner's Guide to Sales Tax in QuickBooks

Posted by Jakob Mann on Aug 8, 2018

A variety of businesses must collect sales tax as part of their business operations, remitting those funds to the appropriate government agency on a predetermined schedule. The process of correctly collecting, recording, and paying these sales tax liabilities can be somewhat daunting at first, but QuickBooks has some tools built in that can help this go more smoothly.

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Topics: QuickBooks Software, QuickBooks Pro, QuickBooks Enterprise, QuickBooks Premier, Sales Tax, Taxes, QuickBooks Desktop

Your Guide to the Net Investment Income Tax

Posted by Denise Loter-Koch on Aug 8, 2018

While the Net Investment Income Tax (NIIT) tends to affect wealthier individuals most often, in certain circumstances, it can also affect moderate-income taxpayers whose income increases significantly in a given tax year. Here's what you need to know.

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Topics: Small Business Accounting, Sales Tax, Taxes in Oregon, Small Business Ideas

How to track time in QuickBooks Desktop

Posted by Denise Loter-Koch on Jul 30, 2018

When you sell a product to a customer, you know it. It goes away, and your inventory count in QuickBooks is reduced by one. This tracking helps you know what is selling and what is not, and it signals when a reorder is due.

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Topics: QuickBooks Warehouse Inventory Management, Small Business Accounting, QuickBooks Software, QuickBooks Enterprise, QuickBooks Premier, Sales Tax, Taxes, QuickBooks Desktop, TSheets

How to Plan a Data Migration in 6 Easy Steps

Posted by Jakob Mann on Jul 24, 2018

From time to time, you may find that you need to replace your QuickBooks company data file. There are a variety of reasons this might happen:

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Topics: QuickBooks Warehouse Inventory Management, Sales Tax, Customize Form Templates, QuickBooks Invoices, QuickBooks Reporting, QuickBooks Company File, QuickBooks Import and Export

Attn. Oregonians: New Sales Tax Rules for Remote (Online and Off-Line) Sellers

Posted by Osita Egbukichi on Jul 2, 2018

For many Oregonians, ‘Sales Tax’ is a dirty word that they’ve had the good fortune to be able to avoid. Small businesses, both local and out of state, factor this exception when they are looking at their projected revenue or viability and, for some, the survivability of their business. However, many may not be aware of the storm clouds that erupted outside the borders of our state; or, the rude awakening many small and personal businesses are in for in this new tomorrow of Sales Tax Nexus.

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Topics: News & Resources, QuickBooks Add-ons & Extensions, Sales Tax, Avalara, Taxes in Oregon

How to make sales tax item adjustments in QuickBooks

Posted by Aubrey Leahy on Mar 23, 2018

The sales tax adjustment feature in QuickBooks doesn’t adjust the individual sales tax item. You must create a zero cost Sales Receipt or Credit Memo depending on the plus/minus adjustment needed.  The details are in the article below.

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Topics: Small Business Accounting, QuickBooks Pro, QuickBooks Enterprise, QuickBooks Premier, Sales Tax, QuickBooks Desktop, QuickBooks Reporting, Avalara, QuickBooks Training or How To

Tax Fraud can bring serious consequences

Posted by Avalara on Dec 7, 2017

Washington businessman Mark Standley was recently sentenced to six years in prison for one of the largest sales tax thefts in Washington state history. As the owner of a drywall company, Standley drastically under-reported the amount of sales tax collected from customers over a six year time period.
According to court documents, he only paid the Department of Revenue (DOR) $3,000 of the $855,000 tax owed. To make matters worse, Standley refused to pay workers’ compensation premiums for his employees.

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Topics: QuickBooks Add-ons & Extensions, Small Business Accounting, QuickBooks Software, Sales Tax, Taxes, Avalara

How To Set-Up Sales Tax in QuickBooks Online

Posted by Chris Low on Oct 26, 2017

Sales tax is one of the more complicated concepts supported by QuickBooks Online.

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Topics: QuickBooks Add-ons & Extensions, Small Business Accounting, QuickBooks Software, Sales Tax, QuickBooks Online, Taxes, Avalara, QuickBooks Training or How To

Who Needs to Pay Quarterly Taxes?

Posted by QuickBooks on Sep 29, 2017

Do I need to pay quarterly taxes? If your employer withholds money each week from your paycheck, then you likely don’t have to think about making quarterly tax payments. However, for those of us who are self-employed or receive income in the form of interests, dividends, rent, alimony, gains from the sale of assets, prizes or awards, it may be necessary to make quarterly estimated tax payments to the IRS.

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Topics: Small Business Accounting, Sales Tax, Taxes, Payroll Setup, Taxes in Oregon

Working with Checks in QuickBooks Desktop

Posted by Denise Loter-Koch on Jul 6, 2017

Online banking may get all the headlines, but a lot of small businesses still prefer paper checks. QuickBooks can accommodate them.

“I don’t write checks anymore,” you hear a lot of people say these days. Debit cards, smartphone payment apps, and online banking have replaced the old paper checkbook for a lot of consumers.

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Topics: Small Business Accounting, QuickBooks Software, Sales Tax, Taxes, QuickBooks Desktop, Payroll Setup, QuickBooks Reconciliation, Vendor Management

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