Here in Mexico, personal expenses are tax deductible. For various reasons, I do not want to mix my personal expenses with my business account to register personal tax deductible transactions. Can you please help me figure it out the best way to adjust my taxes?
Say my Tax Payable Account (in Manager) is $100.00 MXN, but I had enought personal expenses to deduct $20.00 MXN, so actually, my real Tax Payable Account is $80.00 MXN. What’s the best way to adjust this without a drawn from my Owner’s Capital account?
Thank you very much in advance.