2017-06-02 GnuCash IRC logs
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00:12:36 <bryanwithy> Hi! I'm trying to figure out how to understand taxes withheld (as an employee)
00:14:21 <bryanwithy> When I receive a paycheck...Let's say it 21,000 (not USD), but 300 is withheld for taxes, and 500 is deposited into a retirement fund (like a 401k), which means that 20,200 goes to my checking
00:16:47 <bryanwithy> Under Salary, should I transfer 20200 to checking, transfer 300 directly to taxes as an expense, and 500 into the other account?
00:17:23 <bryanwithy> (This seems simple, but I just wanted to make sure before I continue....I'll try to stay online...)
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01:17:29 <bryanwithy> hi mechtilde
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01:21:49 <Mechtilde> morning
01:25:08 <bryanwithy> Good afternoon here :)
01:25:26 <bryanwithy> Are you good at using gnucash?
01:28:50 <Mechtilde> it depends
01:29:11 <Mechtilde> let's try
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01:34:22 <bryanwithy> I'm new to it
01:34:46 <bryanwithy> I had a simple question about withheld taxes
01:35:37 <bryanwithy> I recieved a paycheck worth...let's say 21000 before taxes (not USD), but 300 was withheld for taxes, and 500 deposited into a retirement fund
01:36:35 <bryanwithy> So...from Salary, 20200 should be transferred to checking, 300 transferred directly to taxes as an expense, and 500 will be transferred to my retirement account
01:36:48 <bryanwithy> Does that sound right?
01:37:08 <bryanwithy> Transferring money directly from income to expenses?
01:37:37 <bryanwithy> I'm sure that there are multiple ways of doing it
01:41:15 <bryanwithy> I'm tempted to just not count my taxes and let my workplace do the math, but if I can easily track it this way as well, I figure it couldn't hurt
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01:52:51 <bryanwithy> Maybe this is more of an accounting principles question....is this the wrong place to ask those kinds of questions?
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03:12:44 <gjanssens> .
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03:36:06 <bryanwithy2> Hi
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05:26:26 <bryanwithy2> Still here
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10:40:45 <bryanwithy> Anyone awake?
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11:09:55 <warlord> gjanssens: you use Fedora on your desktop, right?
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15:40:22 <gjanssens> warlord: yes
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