balance sum -- meaning

2023-09-25 Thread Albert R. Pyott
Hello, I have a negative balance in my accounts when I run the "bal" command 
(no other options).  What does this mean?  Thank you!  

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Re: A how to question - -

2023-09-25 Thread Marcin Borkowski


On 2023-09-25, at 17:26, Yuri Khan  wrote:

> On Mon, 25 Sept 2023 at 21:38, o1bigtenor  wrote:
>> On Mon, Sep 25, 2023 at 8:59 AM Enrico Lamperti  wrote:
>> >
>> > I believe it's still income, but you can put it in a different category (I 
>> > use Income:Other, maybe Income:Gifts could work if you believe you'll be 
>> > gifted money often)

Definitely income.

>> As soon as you even think of calling it 'Income' the tax man wants his hunk.

IANAL, and it obviously varies with the country, but in my country
(Poland) a gift is exempt from tax unless it's really valuable, and
there are 3 thresholds above which it becomes taxable - the highest
threshold is for the closest family members and the lowest one for
non-relatives.

I imagine similar laws may exist in other countries.

> There is a specific term “taxable income”, which suggests that not all
> income is taxable.
>
> Depending on local laws, gifts could also be taxable.
>
> Depending on local laws, different sources of income could be taxed at
> different rates.
>
> Therefore, consult the laws and maybe file gifts as tax-exempt income.

Exactly.

-- 
Marcin Borkowski
http://mbork.pl

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Re: A how to question - -

2023-09-25 Thread Yuri Khan
On Mon, 25 Sept 2023 at 21:38, o1bigtenor  wrote:
> On Mon, Sep 25, 2023 at 8:59 AM Enrico Lamperti  wrote:
> >
> > I believe it's still income, but you can put it in a different category (I 
> > use Income:Other, maybe Income:Gifts could work if you believe you'll be 
> > gifted money often)
>
> As soon as you even think of calling it 'Income' the tax man wants his hunk.

There is a specific term “taxable income”, which suggests that not all
income is taxable.

Depending on local laws, gifts could also be taxable.

Depending on local laws, different sources of income could be taxed at
different rates.

Therefore, consult the laws and maybe file gifts as tax-exempt income.

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Re: A how to question - -

2023-09-25 Thread Eric S Fraga
On Monday, 25 Sep 2023 at 09:37, o1bigtenor wrote:
> As soon as you even think of calling it 'Income' the tax man wants his hunk.

I have used income:taxable and income:taxfree in the past to
disambiguate.  Tax free income, at least in the UK, does exist in the
form of, for instance, interest from various allowable types of savings
accounts.

-- 
Eric S Fraga via gnus (Emacs 30.0.50 2023-09-14) on Debian 12.1

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Re: A how to question - -

2023-09-25 Thread o1bigtenor
Greetings

On Mon, Sep 25, 2023 at 8:59 AM Enrico Lamperti  wrote:
>
> I believe it's still income, but you can put it in a different category (I 
> use Income:Other, maybe Income:Gifts could work if you believe you'll be 
> gifted money often)

As soon as you even think of calling it 'Income' the tax man wants his hunk.
>
> If you really want to avoid using Income, you could do some juggling using 
> Assets:Receivables:...
> As a last resort you could balance it with Equity:Adjustments but it feels 
> wrong.
>
I'm asking because nothing 'feels' right to me either.
Maybe someone out there has lived through this and can help  (I hope!!).

Regards

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Re: A how to question - -

2023-09-25 Thread Enrico Lamperti
I believe it's still income, but you can put it in a different category (I 
use Income:Other, maybe Income:Gifts could work if you believe you'll be 
gifted money often)

If you really want to avoid using Income, you could do some juggling using 
Assets:Receivables:...
As a last resort you could balance it with Equity:Adjustments but it feels 
wrong.

Cheers
On Monday, September 25, 2023 at 9:28:33 AM UTC-3 o1bigtenor wrote:

> Greetings
>
> Any idea on how to enter the inflow of capital that is a gift - - - so
> its NOT income - - - ideas?
>
> (I did check the manual nothing included. This is a bit more an
> unusual area in accounting but I'm not sure of how to accurately log
> this.)
>
> TIA
>

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A how to question - -

2023-09-25 Thread o1bigtenor
Greetings

Any idea on how to enter the inflow of capital that is a gift - - - so
its NOT income - - - ideas?

(I did check the manual nothing included. This is a bit more an
unusual area in accounting but I'm not sure of how to accurately log
this.)

TIA

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