Accounting for Sole Proprietors: Tax & Bookkeeping Tips
in Business, Accounting & Taxes ·
Greetings, I have a question for the group; perhaps this has already been addressed in previous discussions, but I haven't been able to locate a definitive answer, so I would be truly grateful if someone could lend me some clarity.
My small business is registered for sales tax, and following the submission of my tax return, I was notified that I need to pay my social security and health insurance contributions. Those payments have already been settled. My question is whether these specific contributions should be recorded in the KPI as an expense, and furthermore, whether one should record the prepayment for these contributions within the KPI ledger.
My small business is registered for sales tax, and following the submission of my tax return, I was notified that I need to pay my social security and health insurance contributions. Those payments have already been settled. My question is whether these specific contributions should be recorded in the KPI as an expense, and furthermore, whether one should record the prepayment for these contributions within the KPI ledger.