Under expenses what does the 'taxes' refer to, is that the amount youcan earn before paying tax thanks
I'll take it as you're referring Expenses on the Profit and Loss report, useravtillotson.
The taxes that displayed on the report are the total amounts that your company owed. Each time you categorise a transaction, the system will matched it to a line on your Schedule C.
I've added this article that have detailed information on how the transactions appear on the reports:
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