@@ -289,96 +289,99 @@ company, person, or legal entity that is the external party for the
transaction.
Note that there is no database of these monikers, so typos can cause
trouble. However, you could implement checks in
`accounts/config/config-tags.ledger` using a regular expression to verify no
typos have occurred. This would be somewhat cumbersome, since Ledger CLI
would likely require that the monikers be encoded into a regular expression.
Barring that, the
[integrity of your data should be periodically checked](checking-integrity-of-tag).
#### IncomeType Tag
The `IncomeType:` tag is used for all `Income:` accounts. This refers to the
type of income. The value of the `IncomeType:` tag is always a string.
Since this particular system is designed for USA non-profit entities who file
USA Form 990, the following `IncomeType` values are supported:
* `Donations`, which refers to standard charitable donations.
* `RBI`, which refers to "related business income".
* `UBTI`, which refers to "unrelated business taxable income.
Not that donor-advised funds and government grants don't currently have their
own `IncomeType`. It's possible this might be necessary; the authors aren't
familiar with how to handle those items on the Form 990. It would be a
relatively simple change to `config-tags.ledger`, though, to support other
income types, or to change it entirely to handle use-cases other than USA
Form 990 filing.
#### TaxImplication Tag
The `TaxImplication:` tag is used for all `Asset:` accounts when the
transaction includes a payment of $10.00 or more leaving the account. This
tag catalogs any tax implications that might occur on outgoing funds.
The most important USA-related issue tracked by this tag are contractors who
must have annual 1099 and/or W2 issued. An [`Entity:` tag](entity-tag) should always
go along with a TaxImplication tag.
The possible values for this field are:
* `1099`, indicating the amount paid requires issuance of a USA Federal Form
1099 for the `Entity` involved.
* `W2`, indicating the amount paid will be part of a USA Federal income, as
reported on Form W2 report for the `Entity` involved.
* `Retirement-Pretax`, indicating the amount paid was made to a W2 employee
as part of pre-tax retirement plan, such as a 401(k) or 403(b) plan.
* `Accountant-Advises-No-1099`, indicating that the circumstances and rules
seem to indicate a USA Federal Form 1099 should be issued for the `Entity`
involved, but an outside accountant advised that no 1099 need be issues for
this `Entity`.
* `Bank-Transfer`, indicating that the amount is a transfer between two
banking accounts under the control of the NPO itself.
* `Foreign-Individual-Contractor`, indicating that the NPO has established
that the `Entity` is a contractor residing outside the USA who is not a USA
citizen and does not for any reason pay taxes in the USA.
* `Foreign-Corporation`, indicating that the NPO has established
that the `Entity` is a corporation outside the USA.
* `USA-Corporation`, indicating that the NPO has established that the
`Entity` is an incorporated entity the USA (i.e., "Inc."), and therefore no
1099 is required.
* `USA-501c3`, indicating that the NPO has established that the `Entity`
has federal 501(c)(3) status in the USA, and therefore no 1099 is required.
* `Refund`, indicating that the amount is a refund owed to the `Entity` from
an amount previously paid to the NPO.
* `Reimbursement`, indicating that the amount is a reimbursement of expenses
incurred by the `Entity` and thus it is not income to the `Entity`.
* `Tax-Payment`, indicating this is a tax payment to a taxing authority (such
as the state or federal government) (e.g., a unrelated business income tax
payment).
* `USA-LLC-No-1099`, indicating that the `Entity` is an LLC, but not the type
of LLC for which the USA requires issuing a 1099.
* `Loan`, indicating that the `Entity` is receiving these funds as a loan
that is expected to be paid back.
#### Program Tag
The `Program` tag is used primarily to track program activity for `Income:`
and `Expenses:` accounts. This allows for knowing what particular initiative
initiated the income (e.g., a specific fundraising campaign) and/or what
particular program activity an expense is toward (e.g., funding travel to
some specific conference).
The Program tag is always a string with the same format as a Ledger CLI
account (primarily for use with Ledger CLI's `--pivot` and `--group-by`,