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Why is imputed income deducted from your paycheck?

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i have imputed income taken out of my check because a have a significant other on my insurance can i use this as a tax deduction
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What does levy deduction on a paycheck mean?

Answer . \nIt refers to the garnishment of wages by a creditor for repayment of a debt.\nStates inact their own garnishment laws, the maximum amount allowed by federal law

What jobs deduct money out of your paycheck for income taxes?

Answer . All employers are required by law to withhold many taxes (and pay some others for) an employee. Any employer who arranges with you not to, (commonly called pay

What is imputed income?

Income that may not be seen as cash, but instead comes in the form of a benefit...sometimes by having another pay an expense...sometimes by having a benefit provided. Examp

Do fringe benefits get deducted from your paycheck?

No a fringe benefit does not get "deducted" from your paycheck in a traditional manner.. If you receive a check for $1000 and $250 are total taxes, then your net is $750.. I

Is imputed income taxable?

Imputed income is not actual income, but is money that you havebecause you provide certain services for yourself instead of payingothers for them, such as owning a house inste

Can health premiums in paychecks be deducted on federal income taxes?

Generally, health premiums are deducted before-tax. This means that when you get your W-2 at the end of the year, the amount taken out for health premiums will already be dedu

How do you determine how much to deduct from a paycheck?

How much federal tax is deducted is determined by how many withholding allowances you select on Form W-4. Ask your employer's HR or payroll department for a Form W-4, fill it

What deduction is the largest percentage of paycheck deductions?

Probably the OASDI (FICA) (social security and medicare taxes) all mean the same tax. The maximum social security contribution limit is 6621 No limit on the amount of earn

Why is your employer not deducting income tax from your paycheck?

Federal and state taxes should be deducted by your employer based on how you filled out your Form W-4 when you were hired. If you claim too many exemptions on your Form W-4

Is imputed benefit income taxable?

Yes, imputed benefit income is subject to federal taxation. It is considered Taxable noncash compensation but is not included in gross pay.

Is a paycheck a income?

Yes it is your net take home pay from your employer for your services.

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

What percentage should you deduct from from your paycheck?

You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. You do NOT have any set percentage amount for this

Is sales tax deducted from your paycheck?

Many taxes are deducted from your paycheck, but sales tax is not one of them. Sales taxes are collected by a merchant at the point of purchase of most goods and some services.