Define payroll withholdings, Basic Statistics

Define Payroll Withholdings

The U. S. earnings tax system-as well as most condition earnings tax systems-requires business employers to hold paycheck taxation from their staff's major incomes and income. The retaining of taxation and other breaks from staff's income impacts the company in several ways: (1) it decreases the cash amount paid to workers, (2) it makes a current obligation for the company, and (3) it needs the company to remit the taken out taxation to the condition and administration by specific due dates. Failure to remit paycheck taxation regularly results in interest and charges assessed on the employer; flagrant offenses lead to more severe repercussions.

Payroll withholdings include:

Employee part of Social Security tax

Employee part of Medicare tax

Federal earnings taxState earnings tax

Court-ordered withholdings

Other withholdings

Expertsmind.com offers unique accounting assignment help

Posted Date: 3/31/2012 4:01:07 AM | Location : United States







Related Discussions:- Define payroll withholdings, Assignment Help, Ask Question on Define payroll withholdings, Get Answer, Expert's Help, Define payroll withholdings Discussions

Write discussion on Define payroll withholdings
Your posts are moderated
Related Questions
How to solve problems of index number fixed based method

journal entries of a loan swap with different currency

how cost classification can helpful for planning, controlling and decision making

The present value (price) formula for a coupon bond is: PV = C/(1+i) + C/(1+i) 2 + ... + C/(1+i) n + F/(1+i) n Part a The present value (price) formula for a zero cou

Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 - 2Y. The corresponding cost functions are c1 (y1) = y 2 1 and c2 (y2) =

Q. Illustrate Linear Correlation? Ans. In bivariate studies we are often interested in finding out whether there is a relationship between two sets of data. Are SAT score

Q. Explain Correlation Coefficient? Ans. The strength of a linear correlation is determined by how precisely the y variable shifts as the x variable increases. The two pi