Categorizing Income Tax Payments That Are Neither Short Term Or Long Term Liabilities
I have a question regarding how to categorize my income tax payments I make each year in wave, but specifically due to the fact that my income tax gets paid immediately. When my tax professional informs me of my tax owed, it is paid at that very moment. Therefore, my tax payments cannot even be considered a long term or short term liability. How then should I categorize those outgoing government payments (withdrawals from my account) in Wave? Any clarification is appreciated.