Posts by Kate Perez10

Our company just got an invoice for some new equipment coming in from Germany, but there's a bit of a mess—the total amount includes the German VAT at 19%.
Does anyone know the right way to book this?
We’re registered for sales tax here in the US, and the supplier is also a registered business back in Germany.
If you ask me, the supplier really should have issued the invoice without any tax applied in the first place...
So, how do we handle this in the books now? Should we be asking them for a refund on that tax?
And where does this even go on our tax filings, or do we just leave it out entirely?

I was wondering... what exactly does it take to get an LLC set up specifically for bookkeeping services?

To be more specific, I'm looking at the technical requirements—what kind of hoops do I actually have to jump through?

If a foreign business (EU - Germany) sends an invoice for a long-term truck lease to a business here in the US, who is actually responsible for handling the sales tax?

I'm thinking the foreign company just issues the invoice without any tax applied, and then the US business handles everything on their end, recording the tax as both a liability and an input credit...

Am I on the right track here?

Kate Perez10 said:So, if a German company leases a truck to an American company, and that truck is being used right here in the States and throughout the rest of the European Union... who actually ends up being responsible for the sales tax?

Basically, I'm wondering if the German company needs to show the tax on their invoice, or does it fall under some kind of reverse charge system?

Thanks

So, if a German company leases a truck to an American company, and that truck is being used right here in the States and throughout the rest of the European Union... who actually ends up being responsible for the sales tax?

ruggedmaker2 said:Look, since it's taxable, you just treat it like any other taxable sale. Throw it in the same bucket; just list it under taxable sales at the 25% rate.

The IRS website actually has a breakdown of the tax forms where they explain every single line item. Seriously, just download that thing and keep it on your desktop for whenever you get stuck.

Thanks. ☕

Carol Price4 said:If you're registered for sales tax, you've gotta charge it on services provided to folks within the European Union.

So, assuming the LLC is set up for sales tax... does that mean we calculate everything here in the US and just list it right there on the tax return form?

I'm trying to figure out the best way to handle an invoice here... specifically, how do I determine who actually needs to be registered for sales tax?
So, my LLC is based here in the US, and we just finished up some service work for a private individual over in the European Union. Our US firm covered both the materials and the labor upfront. What's the right way to go about rebilling those costs along with the service fee?

help
What kind of rules does an LLC based here in California have to follow if they want to lease a commercial truck from somewhere in the USA?

Hi everyone,
I could really use some help here... I'm pretty new to this side of things and I'm wondering how to properly record hunting lease payments.😕😕😕
An LLC just signed a concession agreement—basically a 10-year lease for hunting grounds. We get billed for the lease fees on a quarterly basis. Does anyone know the right way to book the concession agreement itself versus how to handle the actual invoices?

Thanks!