I work off of gross pay using the nifty Paycheck Deduction Transactions Generator. And then this is what I’m thinking will be my workflow for tax transactions:
-I will tag both my wife and my federal tax withholding with a Fed Tax tag and state tax withholding with a MD Tax tag (we’re in Maryland).
-When we either pay any additional taxes or receive a refund, I will assign those to an Income Tax category, but I will also use the Fed Tax or MD Tax tag.
What this will do for me:
-I can run a report on the Fed Tax or MD Tax tags and get all the transactions, including both withholding and additional payments or refunds. In other words, those tags should show my net total income tax payments.
-Since my wife and I earn separate incomes but file jointly, these tags will allow me easily to see the combined tax transactions for both of us.
I kind of just came up with that on the fly in answer to your question, @fost9508, but curious what folks think.