Using Tax Tables while not showing tax/Net Price on Invoices

[Michael L. Boscia]

Thanks Alex,  I expected that to be the answer. I will continue estimating
based on invoice, and not try to do it automatically.

-Mike


On Tue, Mar 5, 2013 at 2:45 PM, Alex Aycinena <alex.aycinena at gmail.com>wrote:

> Mike,
>
> > ---------- Forwarded message ----------
> > From: "Michael L. Boscia" <mikeboscia at gmail.com>
> > To: gnucash-user at gnucash.org
> > Cc:
> > Date: Mon, 4 Mar 2013 22:41:39 -0800
> > Subject: Using Tax Tables while not showing tax/Net Price on Invoices
> > Hello,
> >
> > I am new to gnuCash and am excited to be using it.  My question is
> > regarding showing tax info on invoices.
> >
> > I would like to charge my customers for my Consulting services.  Lets
> say I
> > charge $20/hr and expect to pay 25% tax.  I would like to have the tax
> > table post $5 tax to my Liabilities:Income Taxes Payable account without
> > showing a breakdown with taxes on the invoice such as
> > --invoice snippet--
> > Date Description Charge Type Quantity Unit Price Total
> > 03/03/2013 Programming Hours 10.00 $20.00 $150.00
> >
> > Net Price          $150.00
> > Tax            $50.00
> > Total Price   $200.00
> > Amount Due $200.00
> > --end invoice snippet--
> >
> > Stated another way-
> > I would like to calculate the taxes for the purpose of setting the money
> > aside, but I do not want to show the taxes on the invoice.  How would I
> use
> > a Tax Table to set aside 25% taxes from an invoice but not show the
> "taxes"
> > on the invoice?
> >
> > Thanks Much,
> >
> > Mike
> >
>
> I think you are confusing your taxes. The Tax Table you are referring
> to is supposed to be used to calculate sales (and similar) taxes that
> you may wish to charge, and show, on you invoices, not your personal
> income taxes. Sales taxes may or may not apply on consulting services,
> depending on your tax jurisdictions.
>
> Calculating how much money you should set aside for you personal
> income taxes is complex and I wouldn't think it would be based on
> individual billings, in general.
>
> Regards,
>
> Alex
>