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We wish you and yours a joyful and profitable holiday season, and our sincere thanks for the opportunity to serve you in 2018. We look forward to continuing to work with you to meet your goals for 2019.
The SpeedLine Support team will be available to help you every day throughout the holidays. Other SpeedLine departments will be closed for Christmas Dec. 25-26, but will reopen on the 27th.
Taxes and Year End
Does the end of the year mean tax changes for your business? Read on for tips on "all things taxes" in SpeedLine.
Change the Tax Rate
Does the New Year bring a change in the tax rate in your jurisdiction? It's fast and easy to change rates in Store Manager. Here's how:
Note: Before changing taxes, ensure Day End has been run. As it affects pricing, tax changes should not be made during the business day. On the day before the change takes effect, run day end before you change the tax rates.
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On the Settings tab, click Money, and then click Tax Items.
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In the list on the left, click to highlight the tax you wish to change.
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In the Value field, highlight the existing value and type a new one.
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On the Edit menu, select Save Changes.
- Refresh Terminal to implement your new tax rate.
Create a Tax to Report on Non-Taxable Items
Some items, such as unbaked pizzas, are non-taxable in some states. You can set up a tax item in SpeedLine to track those non-taxable sales in the coming year.
Note: Before creating new taxes, ensure Day End has been run. As it affects pricing, tax changes should not be made during the business day.
- In Store Manager, press F1, and search the Help Index tab for non-taxable.
- Double-click the "non-taxable item reporting" search result to open the Create Tax to Report on Non-Taxable Items topic.
- After following the steps in the help, refresh Terminal. When non-taxable items are sold, a tax amount of zero (0.00) will be shown on the ticket, and non-taxable sales totals will be shown on the Sales Tax report and in the Taxes/Levies Day Report section.
Tax Exemptions in Terminal
If serving tax-exempt customers, you can remove taxes from an order, or make all orders by that customer tax exempt, to speed service.
To remove taxes from an order, enter the order, and on the Full Review screen, touch Options, and then Tax Exemptions.
To remove taxes from a customer, on the Customer screen, touch Options, and select the Tax Exempt check box. If you later need to charge tax on one of the customer's orders, you can do so from the Full Review, Options window.
Reminder: Claim Tax Savings on new equipment installed before Dec. 31, 2018
Under IRS Tax Code Section 179 in the U.S., software or equipment purchased and installed before Dec. 31 can be deducted from 2018 taxes, and the deduction limit has also increased starting this year. If you installed qualifying software or equipment in your restaurant in the past year, be sure to claim it on your 2018 taxes. Visit www.section179.org to see how much you can save.
