We learned a lot in this chapter about tax matters.
Specifically, we covered:
- Creating mapping between GnuCash accounts and Schedule C: You will set up GnuCash accounts to help run your business on a day-to-day basis effectively. However, at tax time, you need to be able to create the tax returns quickly. This mapping is a convenient way to get that output.
- Manual or electronic transfer of data into your tax return software: We saw how to get the numbers needed for the tax return in a report that can be entered into your tax return software manually. We can also export this data in a standard format and import into the tax return software.
- Setting up sales tax tables: We saw different ways of setting up tax tables to follow the law in different ...