Are payroll taxes deductible

Anonymous

∙ 7y ago

Updated: 8/26/2021

Here's a link to a website that explains all about payroll tax deductions and how to handle them. http://taxes.about.com/od/payroll/qt/payroll_basics.htm

Dereck Kozey ∙

Lvl 10

∙ 4y ago

What else can I help you with?

Are payroll taxes at a corporate level deductible on Federal form 1120?

All state and local taxes as well as FEDERAL PAYROLL TAXES are deductible when incurred on property or income relating to business. But, FEDERAL INCOME TAXES are not deductible. and Yea they are deductible on form 1120. Hope tht helps!

What are examples of payroll taxes?

Social Security Taxes, FICA, and medicare are payroll taxes.

Are property taxes tax deductible in California?

Yes, property taxes are tax deductible in California.

Is property tax deductible on California taxes?

Yes, property tax is deductible on California state taxes.

What it payroll company does not pay payroll taxes?

Has this happened, or are you just curious? By law the payroll service has to pay the taxes to the government, that are with held.

Are property taxes deductible in California?

Yes, property taxes are deductible in California for state income tax purposes.

Are late payment of taxes deductible?

Can a corporation deduct its matching fica taxes?

Yes, a corporation can deduct its matching FICA taxes as a business expense on its tax return. The FICA taxes, which include Social Security and Medicare taxes, are considered payroll taxes, and the employer's portion is deductible. This deduction helps reduce the corporation's taxable income, ultimately lowering its overall tax liability.

Are state taxes deductible for federal corporate income taxes?

Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.

Are federal income taxes deductible for federal corporate income taxes?

No, they are not.

Can you deduct payroll taxes?

A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.

Where can I learn more about payroll taxes?

There are certain software that will teach you about payroll taxes. There are also sites that will give you information on what you need to know about what payroll taxes are and which types exist. More information can be found at http://www.payroll-taxes.com/.

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