We’ll begin this week’s tip with a bad word….Taxes. No one likes taxes and quite frankly, we’d like to see less of them; much less. However, they are part of our everyday fabric of life in business, at home, and just going out to dinner. If we forget to pay our taxes, they just might come back to bite us in the future.

IntelliBid v7 takes taxes seriously and makes certain that they are addressed right-off-the-bat. When a New Job is created in
IntelliBid v7, we are presented with a tax link check box in the Add Job dialog box. This check box allows us to link or unlink the Tax Rates with the taxes in Bid Recap / Final Price tab. It gives us the opportunity to input all the taxes for the project in Bid Recap as opposed to the beginning of the bid in the Job Info tab.

Note: the Link Tax Rates From Job Register check box (below) defaults as checked for each new job.

Tax_Rates

If the Link Tax Rates From Job Register is left as checked (default), the Tax Rate dialog box in the Job Info tab is then linked to the Tax Rates in Bid Recap / Final Price tab. If there is a change to the Tax Rate in either section, it will affect the other with the same Tax Rates. It makes keeping track of the Tax Rates much easier.

Tax_Rates2

To set the Tax Rates for your area:

  1. In the Jobs -> Job Info tab, click the Tax Rates button. (above)
  2. Enter the individual tax rates for material, quote, labor, job, equipment, subcontract and job tax. The rates will store values up to 4 decimal places.
  3. Since tax rates normally remain constant, you can enter the rates that apply in the Current Job Rates column and then click the Set current rates as default button. This copies the Current rates to the Default settings which will automatically be used for any new job unless you modify the Current rates for that job. When special circumstances apply, as in a Tax Exempt job or perhaps you do work in multiple states with different tax structures, you can open this dialog and enter the tax rates you want to use for this job in the Current Job Rates column and do not click the Set Current Rates as Default button.
  4. When you have set your tax rates, click OK. The rates you entered are applied to all Bids in the current Job.

Note: If the Tax Exempt box is checked, the tax rates are automatically set to zero.

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