Comments for Recording My Business Expenses

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May 17, 2011
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RE: Sales Tax
by: Anonymous

Your accounting software will take your sales tax into account. It will automatically remove taxes from all totals, at least it does in the software I use. Remember to set up the tax codes for your software.

If you are entering data manually, not by software, the taxes should be removed first.
The taxes should be removed only if you have a tax number.

I am in Canada, things may be different in the States. Here, in Canada, if you are a sole proprietor and your income is below 30,000 then you don't have to take the taxes out.

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