Taxable Lot Rentals

Q: How can I charge tax on lot rentals in QuickBooks?

A: First, check the preference settings for Sales Tax. Click Edit and select Preferences.

Then create a Rent Item that is taxable.

In an Invoice, use the taxable Rent item. Double check to make sure that the invoice reflects an accurate total of rent and tax.

By |2017-03-20T09:19:44+00:00December 7th, 2012|0 Comments

About the Author:

With more than thirty years of experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. As the CEO and owner of Fast Trac Consulting, Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge and experience with others, she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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