Hello Cheffers,I Have a Table at a Craft Fair This Weekend and

[jessicafawn]

Hello Cheffers,

I have a table at a craft fair this weekend and just got my business license for it yesterday. I will also be applying for a permanent business license shortly. I have a question though. In Guam there is no "tax" but they charge a "retail tax" of 4% to direct sales businesses, myself included.
My question is, can I pass this 4% on to my customers or do I eat it myself? I don't have the slightest idea which way to go. If I were in the states tax gets charged to purchasers and it shouldn't be any different here.
I have to report my sales to Guam's tax and revenue office after the fair and fear what the "bill" will be.

Any help would be greatly appreciated.

 

[cmdtrgd]

Re: tax???I would call HO on this one. Generally we don't need a business license and the tax is always paid by the customer.

 

[jessicafawn]

Re: tax???I talked with HO and was transferred to one of the Tax Accountants, JoAnn. She was really nice and very helpful.
Turns out I am responsible for the tax of each sale. http://i57.photobucket.com/albums/g239/jessicafawn/smilies/wow.gif But from what she gathered, I can deduct the amount I pay in "GRT" on my income tax return.

I really can't wait to get back to the states so I don't have to worry about this bs. Excuse my ... well... writing.

There are some great things about Guam but there are some very bad things too... and this is one of them. The government here is so corrupt and who knows where this tax actually goes.

Grrrrrr. http://i57.photobucket.com/albums/g239/jessicafawn/smilies/wall.gif

Thanks for listening.

Oh... and Happy Halloween http://i57.photobucket.com/albums/g239/jessicafawn/smilies/leaves_falling.gif

 

[Sheila]

Re: tax???Yick! On the Military Base in Japan, we get around the Japan laws by being SOFA Status. But since you are already in a US Territory, I guess that you don't get to be exempt. So sorry!

 

[jessicafawn]

Re: tax???I wish that was the case. We get screwed all the time because many people don't consider us part of the US but then we are considered parts of the US for other things. It's very annoying. Looks like I'll have to save some of my commission to pay the 4% GRT. I'll save my receipt for tax time, that's for sure.

 

[jbdowd0798]

Re: tax???

I wish that was the case. We get screwed all the time because many people don't consider us part of the US but then we are considered parts of the US for other things. It's very annoying. Looks like I'll have to save some of my commission to pay the 4% GRT. I'll save my receipt for tax time, that's for sure.

Just think positively- tax time is the end of January/beginning of Feb (when military's W-2 comes out) so its only 2-3 months away to be able to write it all off. Its better than 6-10months away!

You are right- the military families get jacked here and there but let me tell you one very important thing- They keep their jobs through good times and bad (economy right now is big!) and so we can keep our families stable with money and what not vs being in limbo. I'm a Navy wife so I can feel your pain.

 

[jessicafawn]

Re: tax???I have no problems with the Navy, being a Navy wife, or any of the things that go along with it. My problems are with Guam and how corrupt it is.
I just hope when Tax time comes I'll get it all back.

 

[jbdowd0798]

Re: tax???Oh I know you don't have a problem with the Navy or anything- I was agreeing with the fact that sometimes where we go we get jacked (for you- Guam & the Tax issue) but I guess I didn't say it right (sorry)......even though you are having to pay for it, its better than having to worry about him losing his job. So to pay out of pocket, recover it on your taxes in only a few short months, is better than trying to start your life over finding a new job because of the economy.