Record Canadian Income Taxes (Non-Operating Expense)

jacobgraff

Hi,

My corporation has taxes due soon, with the proper amount currently in the Taxes Payable liability account. However, I need to pay the taxes, then record it a non-operating expense, since income taxes in Canada are not considered an operating expense (expense that affects the Income Statement (or P&L)). Is there any way to record this transaction in Wave? Or some sort of work-around that others have found?

Any help is greatly appreciated!

Andy_R

@jacobgraff said:
Hi,

My corporation has taxes due soon, with the proper amount currently in the Taxes Payable liability account. However, I need to pay the taxes, then record it a non-operating expense, since income taxes in Canada are not considered an operating expense (expense that affects the Income Statement (or P&L)). Is there any way to record this transaction in Wave? Or some sort of work-around that others have found?

Any help is greatly appreciated!

Any updates on this??