Taxes -- liability or expense (or both...)

[Todd Greer]

gnucash-user-admin@lists.gnumatic.com writes:

> Actually, what about something like property taxes, This could be a
> liability
> if you track it for the year.  The reason I say this is because the taxes
> are
> levied against you, but you may only make a payment twice a year instead of
> all at once (this is an example).  I can also see where it could also be
> counted as income (what about when you get your income tax refund, that's
> actually income right) and Sales tax and or income taxes withheld from your
> pay would be an expense.  I would guess that it would depend on just how
> accurate you want to be with your bookkeeping:-)

I would see a tax refund as a rebate from an expense account, but
others might see it differently.

-- 
Todd Greer	<todd.greer@ni.com>