Payroll Tax

Payroll Tax Rates and Forms
If you are required to pay employment taxes on domestic help, you can pay them along with your regular income tax on Form 1040.

payroll taxes payable
A current liability that includes payroll taxes withheld from employees and payroll taxes that are levied on an employer but have not yet been remitted.
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Payroll Tax Exemption for Hiring Unemployed Workers
The payroll tax exemption provides employers with an exemption from the employer's 6.

Payroll Tax
Your contribution to Social Security and Medicare: 15.3% of your salary, up to a limit, half of which is paid by your employer.

bank payroll tax

A temporary bank payroll tax of 50 percent was applied to discretionary bonuses above £25,000 awarded in the period from the 2009 Pre-Budget Report (9 December 2009) to 5 April 2010 for each individual employee.

Payroll taxes payable
The amount of payroll taxes owed to the various governments at the end of a period.
Salaries payable ...

Payroll Tax Expense Account where the employer's payroll taxes are recorded.

payroll tax a tax on wages and salaries of individuals. (14)
peak the highest point in real GDP before a recession. (19) ...

Payroll Taxes
A tax based on wages and salaries that is deducted from employees pay cheques.

Payroll tax - Are taxes levied on employee's salaries or net income of self-employed individuals.
P.A.Y.E (Pay as you earn) - This is an income tax system where the tax of an employee is deducted before their wages are paid.

Payroll tax receipts that go into the Social Security Trust Fund are considered "off-budget", but are nevertheless used as revenue in the current budget.
Articles Related to Off Budget
Definitions and Glossary of Economic and Financial Terms ...

PAYROLL TAX: A tax levied on the wage earnings, or payroll, of workers. The most notable, if nothing else in terms of sheer dollar amount, is the Social Security tax.
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Payroll Tax
Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax.

A payroll tax generally refers to two kinds of taxes. Taxes which employers are required to withhold from employees' pay, also known as withholding, pay-as-you-earn (PAYE) or pay-as-you-go (PAYG) tax.

Resolving a Payroll Tax Debt
by Brian C. Hill
In light of the current economic slowdown and the tightening of credit, it is more common than ever for employers find themselves burdened with is unpaid payroll taxes.

PAYROLL TAX Tax charged on an employer's payroll (i.e. gross salaries, wages and other remunerations) paid to his employee without regard to their domicile, family status or other individual circumstances.
PE See: Permanent establishment ...

Further, if Congress chooses to cover the looming deficits by raising the existing payroll tax, the tax rate required to pay benefits will grow from its current level of 12.4 percent of payroll to 17.8 percent of payroll by 2042 and to 19.

Tax wedge [r]: the difference between the cost of labour to employers and the take-home pay of employees; made up of the sum of personal income tax and employee plus employer social security contributions together with any payroll tax less cash ...

The way a company records payment of payroll taxes, for example, differs with these two methods.

You qualify for retirement benefits if you have had at least the minimum required payroll tax withheld from your wages for 40 quarters, the equivalent of 10 years. The minimum for each quarter is set by Congress and increases slightly each year.

Comprehensive benefits, financed by a combination of payroll taxes and general revenues, would include physician services, inpatient and outpatient hospital care, home health services, and supporting services such as optometry, podiatry, ...

payroll burden - Payroll burden includes payroll taxes and benefits. It is calculated using a percentage assumption that is applied to payroll. For example, if payroll is $1,000 and the burden rate is 10 percent, the burden is an extra $100.

It included increases in payroll taxes, decreases in top marginal rates, and increases in capital gains taxes.

(ISO there is no payroll tax or withholding requirements for ISO's) - If company mistakenly treats backdated stock as an ISO the company my fail to meet payroll tax and income tax withholding requirements.

Corporations are also subject to property tax, payroll tax, withholding tax, excise tax, customs duties, value added tax, and other common taxes, generally in the same manner as other taxpayers.

DISABILITY INSURANCE - in the United States, is a payroll tax required in some states that is deducted ...
DISAFFIRM - To refuse to accept a decision already made, to revoke consent, assent or agreement already...

The amount you receive in Social Security retirement benefits, up to the annual cap, is determined by the payroll taxes you paid during your working life, which were matched by an equal tax paid by your employers.

Payables, or accounts payable, is cash set aside to pay a company's routine debts and outgoings such as sales and payroll taxes, loans and mortgages. They are shown under liabilities in the balance sheet.

Savings Rate: Personal savings expressed as a percentage of disposable income -- the income remaining after income taxes and payroll taxes are accounted for. The flow of personal savings adds to the stock of personal wealth.

Liabilities are what the company owes its creditors. Liabilities are balance sheet accounts. Examples of liabilities are accounts payable, payroll taxes payable, rent payable, long-term debt, and income taxes payable.
LIFO (Last in, first out) ...

Employers National Insurance (NI) [social security] This is effectively a payroll tax.

A federal lien which attaches to real property either if the federal estate tax is not paid, or if the taxpayer has violated the federal income tax or payroll tax laws.
FEE SIMPLE ...

The distinction is very important, because the payroll tax and record keeping requirements differ for employees and independent contractors.

reform the social-security regime, with the introduction of a mandatory multi-pillar scheme covering old-age pensions, unemployment insurance, and death and disability benefits. The scheme, to be introduced in 2010, will be funded by a payroll tax, ...

There are some instances in which directors can be held liable for certain debts, such as GST/HST and payroll taxes. With a professional corporation, the shareholder's personal assets may be at risk in the case of professional malpractice.

perspective, it is important to buyers that caregivers be treated as employees, not independent contractors. This eliminates potential tax problems arising when staff is inappropriately classified as independent contractors and payroll taxes have not ...

See also: Expense, Saving, Banks, Medicare, Bills