There are many ways to do so...questions on why your withholding is what it is should be addressed to whoever is making the calculation, which is done pursuant to the info you provide on your W-4. AGAIN, IT IS CONTROLLED BY YOU...NOT SOME OUTSIDE or SET AMOUNT.
If you need to adjust it, because your circumstances require more or less to be withheld to approximate your liability after other income, or special dedcutions you may have...that can be done through them. Understand that many things are withheld from pay, some but not all are tax...and not all people call the same things "tax". Is FICA contributions tax? Many don't think so. Or unemployment contributions? Etc. So you have to define what it is you're speaking about. The amount wittheld, like the amount of tax actually determined to be due, is dependent on many, many factors...such as your maritial and family status, other income and expenses, how other employer beenfits are handled (like retirement contributions, health and medical, etc., etc). It is very reasonable to say that even 2 people at the same job making the same salary will commonly have very different amounts withheld.
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
yes
Classic Withholding Tax applies to the practice in some countries for people paying invoices to hold back a certain portion of their payment for withholding tax purposes. The United Kingdom is one of the countries the utilizes the Classic Withholding tax method.
It is called tax withholding. Many people simply call it withholding.
When paying withholding tax the double accounting method would be to first post the amount as an Accounts Receivable, under Withholding Tax. The next step would be to post the amount to Accounts Payable under Withholding Tax.
compute nased on net sales
Withholding tax is not required in SAP but this functionality available for the countries where it is required. There are two kinds of Withholding tax, Classic and Extended.
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
yes
Classic Withholding Tax applies to the practice in some countries for people paying invoices to hold back a certain portion of their payment for withholding tax purposes. The United Kingdom is one of the countries the utilizes the Classic Withholding tax method.
16. The Thurstons' total federal income tax withholding is $
withholding tax
No. Its an excise tax
It is called tax withholding. Many people simply call it withholding.
social security tax
Ross McGill has written: 'Investment withholding tax' -- subject(s): Taxation, Portfolio management, Withholding tax, Investments 'Technology Management in Financial Services (Finance and Capital Markets)' 'International Withholding Tax'
When paying withholding tax the double accounting method would be to first post the amount as an Accounts Receivable, under Withholding Tax. The next step would be to post the amount to Accounts Payable under Withholding Tax.