Taxes
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Sale rep
Stuff from previous corp is showing up on balance sheet
I have automatic sales tax calculations on my QuickBooks account.The payload is attached below.The correct TxnTaxCodeRef and TotalTax are being passed. However, the sales tax amount is getting overridden correctly. Still, the specific sales tax rate is not being selected in the dropdown instead Automatic Calculation is selected there. This is working fine in the sandbox environment but not in production.This is my Company ID:Company Id for sandbox => [removed]Company Id for production => [removed]Payload{ "TxnDate": "2024-04-01", "Line": [ { "LineNum": 1, "Description": "Products", &nb
About 8 years ago my husbands parents moved to a retirement community in FL and purchased a mobile home there. His dad has been in tax trouble for years and forged my husbands name on the mobile home without his consent. I am assuming the reason was so if the IRS came after him, they would not take that asset. The mobile home was paid for in full with cash. My husbands dad owed us about $50,000 dollars. This past year they decided to sell the mobile home, in order to do so, the sale needed to go through my husband so my husband received a check for $25,000 and his dad agreed to us keeping it to settle some of his debt to us.My questions is, how do we go about categorizing this in quickbooks and then how would we report this for taxes? My husband is self employed and we run a small business (LLC). I typically do all of our taxes because it's fairly straight forward, but for this I am very uncertain of how to record this lump of money that went into our account. Any help is appreciated.
The NC Income Tax for Aug 2024 that has a payment date of 9/16 is showing twice in our chart of accounts. One is not linked to any tax payment it looks like it was mistake on Quickbooks part. We need to have to payment that is not linked to the actual tax payment in the tax center deleted
I sent employees a link to opt in to receive W-2 from electronically, but an error message pops up when they try to view it.
If I have a 1099-INT that reports on my personal SSN, can I claim the interest on my LLC 1065 Tax return that has it's own EIN instead of my personal return?
As a newcomer to managing a single-member LLC (sole proprietorship), I have a few more questions to ensure I’m categorizing and tracking expenses correctly:1. Recordkeeping for IRS: Do I need to keep all individual receipts and details for expenses, like these gift card purchases, to present to the IRS when filing taxes next April? How detailed does this record need to be?2. Impact on Filing: If I don’t list each expense in detail, how might that affect my tax filing? For instance, if I categorize all similar expenses under a broad category (e.g., “Marketing” or “Research”), is that sufficient, or do I need to break down each one?3. Audit Preparedness: For legitimate business expenses, what level of documentation is recommended to stay prepared in case of an IRS audit? Any insights on these points would be really helpful, especially on best practices for tracking these kinds of incentive expenses! Thank you again for your help!
Hello, I have an issue that I cannot figure out for the life of me, and i don't even know where to being. I am a very small business, and when I pay sales tax, on the Liability report it shows;"Total sales, non-taxable sales, taxable sales, tax rate, tax collected, and tax payable." (cash basis)for the entire use of quick books, the sales tax collected, matched the sales tax payable.something happened last quarter that it now shows the tax collected and double or triple the tax payable.and when i go back and run previous reports the numbers are different. IE: my 1st quarter tax printout (thank god i print them) says 1002.77 collected and 1002.77 payable, printed in April of 24.when I run that SAME REPORT today, it says 1002.77 collected and 2989.54 payable for that time period, for a 2886.77 difference that wasn't there in the first quarter and the payable number just keeps changing every quarter since. Apparently this started the 2nd quarter of this year and i must have
It is not added into other counties, I have to add it manually for the total Florida State tax. I haven't noticed any other counties missing.
Example 1: Cases Where Both Shipping From and Shipping To Locations Have 4 or More Tax Components • Shipping From: Katy Mills (Katy)• Address: 5000 Katy Mills Cir, Katy, TX 77494• Tax Breakdown:• State Sales Tax: 6.25%• City of Katy Tax: 1%• Fort Bend County Special Tax: 0.5%• Metropolitan Transit Authority Transit Special Tax: 1%• Improvement District Special Tax (Katy Development District): 0.5%• Total Sales Tax (Shipping From): 9.25%• Shipping To: Frisco• Address: 2601 Preston Rd, Frisco, TX 75034• Tax Breakdown:• State Sales Tax: 6.25%• City of Frisco Tax: 1%• Collin County Special Tax: 0.5%• Denton County Transit Special Tax: 0.5%• Economic Development Special Tax (Frisco Economic Development): 0.5%• Total Sales Tax (Shipping To): 9.25% The total sales tax rate is applied separately for each location (Shipping From and Shipping To). In this case, shipping from Katy to Frisco involves five tax components at each location. Issue with QBO AST: When using QBO AST, only
Do I need to manually input these cash payment sales that show in Sales Orders, even though they are already on there? I cannot figure out if the sales are actually reporting on the P&L and how to show the cash received but not yet deposited, and then the deposit from on hand to the bank. Help!
Hi. We have a major sales tax liability issue. We have simple bookkeeping and accounting procedures. We operate on a cash basis. We create invoices and check each line item if it is taxable (90% of our services are taxable). For the first quarter of 2024, I ran our Sales Tax Liability Report. I have to reconcile these numbers to other reports. I ran the Sales by Customer Detail report for the same period and same accounting method. The total amount at the bottom of this report matches column one of my liability report, "Gross Total". On this same report, the difference between the "Total" and "Taxable Amount" is $1330.17. So, the "Non Taxable" column on the liability report should show this amount. It doesn't. It shows $8505.17. A difference of $7175. When I drill down on the non taxable items and spot check the invoices, they are marked as taxable!!! My question is...where is QBO drawing it's dat
Has anybody else experienced this: For the past 2 years as well as now 2024, QuickBooks Desktop has cleared all my mappings for 1099 get cleared and i have to start all over. And, this seems to be for ALL clients. Any input on this matter would helpful. Thanks,Dale RJ PeronteauAmerican Eagle Consulting, Inc.[email address removed]
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I filed a 941 tax form for the third quarter 2024 and forgot to archive the form and i need to know how to retrieve a copy
Is anyone seeing this issue? I create a PO to purchase the product, then an associated Bill to pay the vendor for the product purchased and drop shipped to my customer. I then create an invoice to charge the customer for the product drop shipped from the vendor. Tax is correct upon entry, and I save and send the PDF. Next time I check (could be an hour later, or next day) my invoice amount is larger and upon review the sales tax has "doubled". I click on "see math" right below the sales tax amount and it reverts (it did that the last few days) Now when I click on "See math" It asks me if I want to override the "bogus" amount and then it puts back the sales tax to what it was originally.
I have discovered in preparing for the 2024 year-end that there are errors with the QuickBooks 1099’s. It seems that QuickBooks reports for 1099’s is listing the Bills in the system, and NOT the Payments made for the year. Which is not accurate calculations to issue 1099’s.To issue a 1099, it must be for Bill Payments made in 2024, not Bills.Do you have any knowledge of this, and if so have you found a solution? Thank you
I registered my company with TWC TX for UI account number, at the same time QBO assigned a different number for the same company. How can I merge both numbers and use one of them only for the same company?
I overpaid a payroll liability on my QB desktop while manually entering an amount. This generated an overpayment in the third quarter (3Q) in which it was done. When I attempted to submit my 3Q 941 it would not allow it until I adjusted the Schedule B to match the 941. I then submitted the 941 and it was accepted. Problem is, although I applied the overpayment amount to the fourth quarter, 4Q, it still shows payment due in the exact amount as the 3Q overpayment. When I enter the adjustment it generates a payroll liability due in the amount of the adjustment. Apparently, I am doing the adjustment incorrectly. Help!
Can QBO issue 1099-NEC or 1099-Misc twice on the same transaction - one for the individual and one for the attorney? Basically, what was paid to the attorney, needs to be reported under the individual as well.See below:Treatment of Payments to Attorneys - IRC 6041 and 6045 state that when a payor makes a payment to an attorney for an award of attorney's fees in a settlement awarding a payment that is includable in the plaintiff income, the payor must report the attorney's fees on separate information returns with the attorney and the plaintiff as payees. Therefore, Forms 1099-MISC and Forms W-2, as appropriate, must be filed and furnished with the plaintiff and the attorney as payee when attorney's fees are paid pursuant to a settlement agreement that provides for payments includable in the claimant's income, even though only one check may be issued for the attorney's fees.
This is the path that leading to nowhere with the payroll tax notice uploads. I'm in Google Chrome. Gonna try the above fix to see if that works.
When I used the manual method to record quarterly tax payment to the IRS thru the payroll part of Quickbooks online, I entered the incorrect check number. How do I change the check number to the IRS after the fact?
I file and pay our state payroll taxes outside of QBO. Every time I try to record the filing and payment in QBO I get an error. Is this happening to anyone else and if so, how did you correct this?
