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Posted by on Apr 8, 2020 in Product Updates | 0 comments

Record and Deduct Sales Tax Effortlessly With Shoeboxed

Record and Deduct Sales Tax Effortlessly With Shoeboxed

Deducting sales tax just got easier 

All Shoeboxed customers now have the power to add a new data field to their digitized receipts: sales tax, value-added tax (VAT), or goods and services tax (GST). 

Once you opt-in, Shoeboxed will begin scanning sales tax/GST/VAT information on future receipt submissions. This information will then be included in your digitized receipts for you to organize as you see fit. 

Taking advantage of this feature means you won’t have to hunt down and mine your receipts for sales tax data: we’ll store that information for you so you can deduct sales tax quickly and easily.  

PS, haven’t filed your taxes yet? Here’s everything you need to know about the new tax deadline.

More money in your pocket 

Deducting your sales tax reduces your tax liability and ultimately puts more money in your pocket. When you opt-in to tracking your sales tax data, we’ll make it easy for you to report on and deduct it. 

Not sure if you can or should deduct sales tax? If you made large purchases last year, live in a state with no income taxes, or otherwise plan to itemize your deductions, this strategy can be particularly beneficial. 

The new tax deadline means you have more time to maximize your deductions. Learn how.

Getting started 

Not on a Shoeboxed plan and want to start recording your sales tax? Try Shoeboxed free for 30 days.

Current Shoeboxed customers can opt-in to recording sales tax from their account settings page. For full details on how this new feature works, visit our Help Center.