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Post# of 136089
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jdarcy77

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jdarcy77

Re: thatguy157 post# 44914

Friday, 05/27/2011 10:12:17 AM

Friday, May 27, 2011 10:12:17 AM

Post# of 136089
state and city taxes yes. sales taxes no. sales taxes should be a balance sheet item only and not show up in the P&L since it's not an expense for the company.

the only reason it could be an expense (happened to one of my clients) is when the billing system is not set up yet to compute and collect sales tax. if that is the case it's an expense for the company, but that should only be temporary
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