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Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
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Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I have a question regarding my income tax expense is is

Customer Question

Hi i have a question regarding my income tax expense is is correct to list it there because it shows a loss or where do i need to list it please see attachment below where it says that i paid $142751.00 thousand dlls
Submitted: 1 year ago.
Category: Finance
Expert:  Stephen G. replied 1 year ago.

I don't know what is in the $142,751., but if it is your estimated tax payments, it doesn't belong as an expense; it is not deductible; if you've included payroll taxes in that total and that includes withholding on employees payroll, those disbursements would belong in your salary account; the only way to figure out what to do with the $142,751. is to do an analysis of what has been included in that account. Clearly it is correct and doesn't belong where it is.

Steve G.

Expert:  Stephen G. replied 1 year ago.

Just checking in...............

I see that you have been able to review my response; do you have any further follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.