03-07-2006, 02:31 PM
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 Re: How to record a transaction for Fed tax withholding "Jared3" <Jared3[at]discussions.microsoft.com> wrote in message news:52197868-7FC7-4185-95DF-F3C61CC64055[at]microsoft.com... - quote - > My question is: How do I record that in Money? The transaction reduces the
Either categorize as tax expense, or transfer to a bank account named> cash account, but I don't now how to record the other half. something like 'taxes withheld'. In the latter case, record your actual taxes as an expense from the 'taxes withheld' account at the end of the tax year. Refunds can be categorized as a transfer to checking. -- Chris Cowles Gainesville, FL |
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#-1
03-07-2006, 02:21 PM
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| How to record a transaction for Fed tax withholding I have an IRA with various investments. When they pay dividends they are transfered to a cash account. Once a month a transfer is made from the cash account to my checking account, and a portion of the transfer is withheld and sent to the IRS as a Federal withheld tax. My question is: How do I record that in Money? The transaction reduces the cash account, but I don't now how to record the other half. Help -- Jared3 |
| Tags |
| fed, record, tax, transaction, withholding |
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