Should Pension(401K) be an Assets account?

[Tianwei Dong]

Pension(401K) normally is before tax, putting that as an Assets account will kind of inflate the Assets in the Balance sheet.

How do everyone handle this?

Thanks

[Martin Blais]

401k is an asset.

When I compute net worth I apply estimated taxes with a rate that depends on the account, e.g. pre tax, Roth, taxable, etc.

In that sense assets is "gross" but I'm not sure it makes sense to say that.

I don't track pension at the government (social security). It's an expense from my pov on the payroll. 

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[Red S]

In theory, many assets are subject to taxes upon withdrawal. In the US, those taxes might be short term or long term capital gains (taxable accounts), or regular income (retirement accounts like 401k), or none if withdrawn after a certain age (Roth).

A balance sheet books taxes at they point they are recognized.

You may be looking for a tax-adjusted net worth assessment, which considers expected taxes. Investor offers this in its asset allocation module.