how do you know what kind of expense falls under each tax line
how do you know what kind of expense falls under each tax line
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dW2gCqD8yr3PKzacfA8pyY
07/23/09 1:28pm PDT
Viewed by asker 11/12/09 11:19am PST
Viewed by asker 11/12/09 11:19am PST
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2 Replies
cshanson
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Questions answered: 25
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Certified ProAdvisor
Certified ProAdvisors have successfully completed an extensive and rigorous QuickBooks certification program.
07/23/09 2:46pm PDT
The solution
If you can get a copy of the tax form, such as a Schedule C for a sole-proprietor, you will have the major expense items. If you have an expense item that does not fit in any particular line category on the tax form, you might want to ask your accountant as to the best category to put it in. I hope this helps. If not keep asking questions or mark this as solved.
JohnNP
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Questions answered: 419
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Allstar
Advisory council of community power users.
07/25/09 12:34pm PDT
Latest post
this "feature" has wisely been discuntinued in newer versions of QB
its use was generally misleading leading to false and incorrect tax reporting by non-accountants attempting to use it, since bookkeeping data generally never corresponds to income tax treatment for all transactions in an enterprise
recommend using proper tax procedures (by accountant) and not attempting using this in bookkeeping software like QB
