As an example, imagine your salary were $60,000.00 per year, and you were paid once per month. Each month you earn $5,000.00, but you don't get to keep all of that money; you have to pay some tax. Let's pretend the tax is $500.00. The amount you get to keep is only $4,500.00.
Your ledger entry would look something like this:
2009/05/31 ZUCC
Income:ZUCC:Salary $-5,000.00
Expenses:Taxes:Income Tax $500.00
Assets:Saving:CCB $4,500.00
