3 ms·
This depends entirely on how your business is structured. I'm pretty sure the way GnuCash recommends handling business accounts is to have a completely separate
by TheAdamAndChe 9y ago
This depends entirely on how your business is structured. I'm pretty sure the way GnuCash recommends handling business accounts is to have a completely separate GnuCash file for your business, then pay yourself under the Income category with that business and use that as a normal salary income. The complete separation makes tracking everything much easier.
- jldugger 9y agoIDK what GNUCash recommends but keeping separate books is literally the first factor the IRS uses for distinguishing hobby vs business income: https://www.irs.gov/pub/irs-utl/irc183activitiesnotengagedinforprofit.pdf https://www.irs.gov/pub/irs-utl/irc183activitiesnotengagedin...