There is nothing about that is good news and your answer is not a true statement.

Because you don't keep the tax exempt status of customers for transactions...you have to manually mark customers exempt on every invoice. Every time I create new invoice while in a project, the invoice thinks that customer could have taxes even though they are marked exempt. They end up on the report.

If you didn't know this was happening, then all of  your invoices since Jan1 think you "could owe" taxes for that customer even though the amount is zero on every invoice and the customer is tax exempt. I have ZERO tax on every invoice. I cannot turn off taxes. BIGGEST MISTAKE I MADE. I don't need to bulk import as much but I can't bulk edit and it has made everything so much harder and longer. UGH!!!! Give us a freakin warning that we are going to lose features by turning one on.