Make tax inclusive on a certain item

Hello, is there a way to make tax inclusive on a certain item? My situation is that we charge a certain amount per hour for picture frame installation and I include the tax in the labor fee. I can back out the tax and enter it, but I would like to have an easy way to just enter $300 and it backs it out for me.

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Yes, you can set a tax to be included in the price.  just create a new tax and you can apply it to just that item.  the option is at the bottom of the create a tax and says "include tax in the item price".

https://squareup.com/dashboard/business/manual-taxes

 

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Yes, you can set a tax to be included in the price.  just create a new tax and you can apply it to just that item.  the option is at the bottom of the create a tax and says "include tax in the item price".

https://squareup.com/dashboard/business/manual-taxes

 

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Thank you! I will see if I can make that work.

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Hi @BrendaFAC.  In order to do this, you would have to set up two sales tax rates.  Both would have the same percentage, but one would specify that it was included in the item price and the other would specify that it was not included in the item price.  Then you would assign each item to the correct sales tax definition.  This will allow Square to give you the correct information in your sales tax reports.

 

One word of warning.  Some (if not all) states do not allow you to do this.  In my state, for example, we must choose which method we use and use it consistently for all sales and all items.  This is something you should talk to your accountant or CPA about before doing it to be sure that you aren’t doing something that is going to get you audited or worse.

 

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!
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Thank you @TheRealChipA, that is good advice. I will talk with my accountant and make sure I am allowed to do this. 

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wow @VanKalkerFarms  We were stalking each other tonight! Lol

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!
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