Customers often return defective and damaged products to retailers. The difference between gross sales and net sales is the balance in the "sales returns and allowances" account. Companies account for ...

Keeping sales tax in a separate account can save you from making these common mistakes. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Erika Rasure is globally-recognized as a leading consumer ...

Nearly all states, charge a state sales tax on purchases to fund government programs. Some states charge sales tax on all items and services, while others only tax certain services. For example, most ...

New sales tax nexus standards are creating a larger compliance footprint for U.S. companies and, potentially, foreign entities selling into the United States. With the change from physical presence to ...

Ward Williams is a former Editor for Investopedia focused on student loans and other financial products and services. He has over five years of professional editing, proofreading, and writing ...

Forbes contributors publish independent expert analyses and insights. Bruce makes the law and tax code understandable to everyone. If your tax return involves equity compensation and stock sales, you ...