What I do is have a separate currency like CUSD (Corporate-USD) for money flows that are about me but aren't my money. Works just as well for travel expenses.
Mostly this just makes the Income balances more immediately legible. On Sun, Dec 8, 2024, 4:04 PM Gary Roach <[email protected]> wrote: > Hi all, > > I'm working on importing my paycheck and I'm not sure how to handle > employer paid benefits. I have 3 employer paid benefits: imputed life > insurance (taxable), life insurance (non-taxable), and medical insurance > (non-taxable). > > For the taxable imputed life insurance, I think it makes sense to have an > income and an expense leg on the paycheck entry since this does count as > taxable income for me and the expense was paid on my behalf. > > 2024-12-01 * "Hooli Paycheck" > Income:Hooli:Salary -2000 USD > Assets:Bank-Account 1250 USD > ;; Employer Paid Benefits > Income:Hooli:Imp-Life -50 USD > Expenses:Hooli:Imp-Life 50 USD > ;; Before Tax Deductions > Expenses:Pre-Tax:Medical 50 USD > Expenses:Pre-Tax:Dental 50 USD > Assets:Pre-Tax:401K 100 USD > Assets:Pre-Tax:HSA 100 USD > ;; Taxes > Expenses:Taxes:Income 250 USD > Expenses:Taxes:Medicare 50 USD > Expenses:Taxes:Social-Secuirty 50 USD > ;; After Tax Deductions > Assets:Post-Tax:ESPP 100 USD > > I believe the above entry is correct from a tax perspective. Income:Hooli > represents Gross Income and Income:Hoolie - Expenses:Pre-Tax - > Assets:Pre-Tax represents Taxable Gross Income. > > However, this doesn't include the remaining employer paid benefits for > which I'm not liable for from a tax perspective. This has the problem of > not representing the true compensation from the employer as well as > underrepresenting the true cost of health insurance. > > My first thought was to add them in a similar way as the imputed life > insurance benefit. > > 2024-12-01 * "Hooli Paycheck" > Income:Hooli:Salary -2000 USD > Assets:Bank-Account 1250 USD > ;;Taxable Employer Paid Benefits > Income:Hooli:Imp-Life -50 USD > Expenses:Hooli:Imp-Life 50 USD > ;;Non-Taxable Employer Paid Benifits > Income:Hoooli:Life -50 USD > Income:Hoooli:Medical -225 USD > Expenses:Pre-Tax:Hooli:Life 50 USD > Expenses:Pre-Tax:Hooli:Medical 225 USD > ;; Before Tax Deductions > Expenses:Pre-Tax:Medical 50 USD > Expenses:Pre-Tax:Dental 50 USD > Assets:Pre-Tax:401K 100 USD > Assets:Pre-Tax:HSA 100 USD > ;; Taxes > Expenses:Taxes:Income 250 USD > Expenses:Taxes:Medicare 50 USD > Expenses:Taxes:Social-Secuirty 50 USD > ;; After Tax Deductions > Assets:Post-Tax:ESPP 100 USD > > Income:Hoolie - Expenses:Pre-Tax - Assets:Pre-Tax still represents Taxable > Gross Income, but the employer paid benefits are now counted towards my > Gross Income. Which I guess it is, but my W-2 doesn't usually include that > in Gross or Taxable Gross. I guess I could still calculate Gross with > Income:Hoolie - Expenses:Pre-Tax:Hooli to remove the non-taxable employer > paid benefits, but this seems a bit off to me. I'm curious what everyone > else is doing here? > > -- > You received this message because you are subscribed to the Google Groups > "Beancount" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion visit > https://groups.google.com/d/msgid/beancount/8e20a919-b660-429d-8f9a-9b8bf7024bf2n%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/8e20a919-b660-429d-8f9a-9b8bf7024bf2n%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/d/msgid/beancount/CAOVsoWS-pigWDEaL-pALcUZnTQ3fVQAyzxBbZ%2BqRO5svNZVgzA%40mail.gmail.com.
