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How do you treat withholding tax in the books?

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Like any other accrued liability/account payable, own account is nice, not entirely nessasary. It is charged as part of payroll expense (which it is).
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Do you withhold federal taxes for minors?

  Answer   All taxes should be withheld on earned wages. If a minor has less than the standard deduction in UNEARNED income then they will not pay any Federal Tax...

What is withholding tax?

income tax withheld from each paycheck and sent to the state or federal gov't       Employer deductions from employees' earnings to pay employees' taxes.

What is backup withholding tax?

When a person, such as an employer, makes payments to another person, they must withhold and then pay a specified percentage of this payment to the Internal Revenue Service (I

How do you compute withholding tax?

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

Why withholding tax is required in SAP?

  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 Exten

What does Federal Withholding Tax provide?

It provides estimated payments toward your eventual liability.   It provides compliance with the law that estimated payments must be made or penalty and interest would be d

What is the difference between withholding taxes and not withholding taxes?

Withholding taxes are taxes that are subtracted from a payment by a third party before you receive the payment. Examples of this are: your employer takes taxes out of your pay

How is federal tax withholding calculated?

Use the tables and instructions in Publication 15: http://www.irs.gov/pub/irs-pdf/p15.pdf and Publication 15A: http://www.irs.gov/pub/irs-pdf/p15a.pdf If you just want

When do you max out paying your withholding tax?

  None, of course. Just like there is maximum amount of tax you can pay - based on their is no maximum amount of income you can earn....all withholding is how you pay the

Do you pay taxes on 401k withholdings?

By withholding I will guess that you mean the amounts that you are contributing to your 401K BEFORE income taxes (deferred compensation amount) that will not be subject to the

What would the withholding tax be for 536.30?

Withholding tax comes in various forms and types: The 2 most common are for payroll, where tax is withheld and sent to th appropriate jurisdictions - Federal, State, City and
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What is a withholding tax used for?

Withheld taxes are used for several things. City taxes and state taxes are withheld from one's paycheck. Federal taxes are also withheld from your check. That amount depends o

What is withhold tax who deducts it?

Employee income tax (such as PAYE) and other government imposed deductions from dividends, salaries, wages, and other incomes. Withholding taxes are levied at the point of dis

How do you calculate withholding on your paycheck from your taxes?

So here's where I'm at. I always claimed zero at work and got a big  tax return. I got $8500 or so in 2013. I adjusted it at work  (not sure to what) and got $500 more in my