NPO-Accounting/npo-ledger-cli
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Initial documentation of the TaxImplication tag.

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Includes declaration in the configuration for TaxImplication tag.
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Bradley M. Kuhn 2013-05-10 16:53:04 -04:00
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4
accounts/config/config-tags.ledger
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@ -54,3 +54,7 @@ tag Program
tag Entity tag Entity
assert value =~ /[ A-z0-9\-]+(:[ A-z0-9\-]+)*/ assert value =~ /[ A-z0-9\-]+(:[ A-z0-9\-]+)*/
tag TaxImplication
assert value =~ /1099|Accountant-Advises-No-1099|Bank-Transfer|Foreign-Corporation|Foreign-Individual-Contractor|Payroll|Refund|Reimbursement|Tax-Payment|USA-501c3|USA-Corporation|USA-LLC-No-1099/

53
npo-ledger-cli-tutorial.md
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@ -301,6 +301,59 @@ relatively simple change to `config-tags.ledger`, though, to support other
income types, or to change it entirely to handle use-cases other than USA income types, or to change it entirely to handle use-cases other than USA
Form 990 filing. Form 990 filing.
#### TaxImplication Tag
The `TaxImplication:` tag is used for all `Asset:` accounts when the
transaction includes a payment of $10.00 or more leaving the account. This
tag catalogs any tax implications that might occur on outgoing funds.
The most important USA-related issue tracked by this tag are contractors who
must have annual 1099 issued. An [`Entity:` tag](entity-tag) should always
go along with a TaxImplication tag.
The possible values for this field are:
* `1099`, indicating the amount paid requires issuance of a USA Federal Form
1099 for the `Entity` involved.
* `Accountant-Advises-No-1099`, indicating that the circumstances and rules
seem to indicate a USA Federal Form 1099 should be issued for the `Entity`
involved, but an outside accountant advised that no 1099 need be issues for
this `Entity`.
* `Bank-Transfer`, indicating that the amount is a transfer between two
banking accounts under the control of the NPO itself.
* `Foreign-Individual-Contractor`, indicating that the NPO has established
that the `Entity` is a contractor residing outside the USA who is not a USA
citizen and does not for any reason pay taxes in the USA.
* `Foreign-Corporation`, indicating that the NPO has established
that the `Entity` is a corporation outside the USA.
* `USA-Corporation`, indicating that the NPO has established that the
`Entity` is an incorporated entity the USA (i.e., "Inc."), and therefore no
1099 is required.
* `USA-501c3`, , indicating that the NPO has established that the `Entity`
has federal 501(c)(3) status in the USA, and therefore no 1099 is required.
* `Refund`, indicating that the amount is a refund owed to the `Entity` from
an amount previously paid to the NPO.
* `Reimbursement`, indicating that the amount is a reimbursement of expenses
incurred by the `Entity` and thus it is not income to the `Entity`.
* `Tax-Payment`, indicating this is a tax payment to a taxing authority (such
as the state or federal government) (e.g., a unrelated business income tax
payment).
* `USA-LLC-No-1099`, indicating that the `Entity` is an LLC, but not the type
of LLC for which the USA requires issuing a 1099.
* `Loan`, indicating that the `Entity` is receiving these funds as a Loan
that is expected to be paid back.
#### Program Tag #### Program Tag
The `Program` tag is used primarily to track program activity for `Income:` The `Program` tag is used primarily to track program activity for `Income:`