Kimpton ✭✭
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- Username Kimpton
- Joined
- Visits 149
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- Points 73
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- 11
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- 78
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Re: Record income tax payment
Zoe, Typically, yes this treatment is for corporations. I'm a Canadian accountant so my understanding of US tax law is functionally non-existent. In Canada the net income from a sole-prop business is… (View Post)1 -
Re: Record income tax payment
I think you've got it Zoe! As long as you don't include the installments as an expense for your business. Your basic business equation is 'revenues - expenses = profits' (or net income). Your tax for… (View Post)1 -
Re: Record income tax payment
Ok folks - take a deep breath here. Income tax IS an Expense. You can argue what kind and while it is a different kind than operating it is an Expense. Secondly, it can only be calculated accurately,… (View Post)3 -
Re: How to handle invoice deposits or pre-payments
You call this (un) helpful page "How to handle invoice deposits or pre-payments" but you don't actually talk about either. Why don't you just admit that Wave does not handle deposits or pre… (View Post)1 -
Re: How can my equity be lower than my cash in bank when i have no liabilities?
No, It is definitely NOT a bug. You're using the balance sheet incorrectly. The BS reconciles your assets and liabilities; The basic equation is Assets - (Liabilities + Equity) = 0 Retained Earnings … (View Post)1
