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If you own a business how much of your salary should be withhold for taxes?
Wiki User
∙ 15y ago
See Publication 15:
http://www.irs.gov/pub/irs-pdf/p15.pdf
Wiki User
∙ 15y ago
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What do you get back after taxes with a salary of 52000?
Your employer payroll department will be the only that that may be able to help you determine what your net take home pay would be after they withhold all of the necessary amounts from your 52000 gross pay that they are required to withhold.
If an external conpany sends to your company compensation for your employee for attending the external companies workshop. I this a pass through with no taxes taken or should my company withhold taxes?
no
Is it legal for an employer to charge a fee for taking local taxes out of your check?
Absolutely "NO". They cannot charge to withhold taxes. They can charge to withhold a garnishment if instructed by the court.
Employers withhold what from each paycheck?
payroll taxes
What will your business do?
my business is my business, i should not have to pay taxes for anything at all right?
Is there a minimum annual amount a business can pay a person before the business owner has to withhold payroll taxes?
For a regular employee, business have a standard model they follow based on how much the employee earns. In practice, most businesses do withhold taxes even for employees who don't make much, just because it's legally safer for them to do so and let the employee worry about getting any overpayment back when they file their return.However, businesses do not have to withhold payroll taxes from people who are not actually on the payroll but instead work as independent contractors, no matter how much they're paid. The contractors themselves are responsible for paying the taxes throughout the year.Businesses are not required to submit earnings statements for contractors they pay below a certain annual threshold. I believe this is about $1600, but you should definitely consult a tax attorney before relying on that figure.
Should you withhold social security taxes from an employee's pay based on the check date or the pay period date?
Check date.
Are employers required to withhold payroll taxes for vendors?
A taxpayer only needs to withhold payroll taxes on employees. A vendor would not typically be an employee of the company buying the goods or services.
What age do you pay FICA Tax?
In most cases, there is no minimum age for payroll tax withholding. Parents do not have to withhold payroll taxes on payments for services of a child under the age of 18 who works in a trade or business if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of a child. Parents do not have to withhold payroll taxes for a child under the age of 21 for work other than a trade or business (such as work in the home). There is a wage test for domestic household workers of $1,700/year (2011); individuals who pay someone less than that (including parents who employ their children) do not have to withhold taxes. I don't find any minimum age or minimum wage test for other employers withholding payroll taxes.
What taxes are hled from your check?
First your paycheck with your NET take home pay (net pay after all deductions) that you have in your hand will not have anything withheld from it because it is issued to you after all of the necessary taxes and other amounts that the employer is required to withhold from your gross wages, salary, earnings, etc. You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period. They will do this before they issue your net take home paycheck to you
Will the IRS withhold your taxes for being sued?
Yes, the IRS could withhold your taxes if there is a judgment against you. If you are sued for back child support, for example, your refund could be given directly to the other parent.
What percentage of paycheck is deducted?
First your paycheck with your take home pay (net pay after all deductions) that you have in your hand will not have anything withheld from it because it is issued to you after all of the necessary taxes and other amounts that the employer is required to withhold from your gross wages, salary, earnings, etc. You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period.
