Withholding Tax

[Derek Atkins]

That's what the "TaxIncluded" flag is for.

-derek

Quoting Paul Ogilvie <paul__ogilvie at hotmail.com>:

> Hi,
> I am a new potential user of gnucash.
> I have a question tho.
> At the moment I work on contract under the withholding tax system.
> This means that I invoice my employer and he deducts 20% tax and sends it to
> the ird.  If too much gets paid then I get it back with my return at the end
> of the year.
> At the moment I can get gnucash to work out my tax on the invoice.  The
> problem I have is that I need it not to add it to my income.
>
> An example:
>
> If I worked 8hrs at $16 and my withholding tax was 20%,
>
> Then
> Income Before tax would be: 16*8 = $128
> Withholding Tax would be: 20% of 128 =$25.6
> And Imcome After tax would be 128-25.6 = $102.4
>
> What I get in Gnucash is it adding my tax to my income thus it thinks I
> earned 128+25.6 = $153.6 which is wrong.
>
> Any advice would be greatfully accepted
>
> Regards
> Paul
>
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available