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Is the amount of sales tax paid a function of the labeled price of a taxable item?
Yes, because the more something costs, the greater the sales tax.
How do you get paid when you work on commission?
Commission only jobs, pay you based on a percentage of your total sales, either weekly or bimonthly
How to make Journal entry for expenses of employees paid from petty cash and deducted in payroll?
Debit employee expensesCredit cashDebit payrollCredit cash (balance amount)credit employee expense
What percentage of gross pay equals net pay?
The amount is not a straight percentage. Gross pay is the amount you are paid before any tax withholding. Net pay is the amount you take home after taxes are withheld from your paycheck.
Why would i pick State and local income tax deduction?
You generally want to take the higher of your state/local income taxes paid for the year, or the sales tax deduction. Which one of the two is higher is different for each person. The American Jobs Creation Act of 2004 gives taxpayers the option to claim state and local sales taxes instead of state and local income taxes when they itemize deductions. This option is available for the 2004 and 2005 returns only. IRS Publication 600, Optional State Sales Tax Tables, helps taxpayers determine their sales tax deduction amount in lieu of saving their receipts throughout the year. Taxpayers use their income level and number of exemptions to find the sales tax amount for their state. The table instructions explain how to add an amount for local sales taxes if appropriate. Taxpayers also may add to the table amount any sales taxes paid on: * A motor vehicle, but only up to the amount of tax paid at the general sales tax rate; and * An aircraft, boat, home (including mobile or prefabricated), or home building materials, if the tax rate is the same as the general sales tax rate. For example, the State of Washington has a motor vehicle sales tax of 0.3 percent in addition to the state and local sales tax. A Washington state resident who purchased a new car could add the tax paid at the general sales tax rate to the table amount, but not the 0.3 percent motor vehicle sales tax paid.
What is the sales commission based upon?
The total value of sales made. The commission is a percentage of that amount, paid to the salesman.
is the sales tax based on the actual sales price?
In a way, yes. It is a tax imposed in the sales you make and an amount of tax (a percentage of the amount you charge the customer for the item or service) on this has to be paid to the government.
How do you use percentages in commission?
Most jobs where a commission is paid as part of their salary or in place of their salary. Normally a commission is paid as a percentage of sales, or as a percentage of income made by the company. The idea behind this is that it acts as an incentive for the employee to get higher sales and therefore, earn more.
How much does an employee get paid at the house of Fraser?
Sales Advisers are paid minimum wage in the UK.
What's the percentage of sales tax for business that must be paid?
The percentage of sales tax that must be paid by businesses varies from state to state. Contact your state revenue department for more information.
What is the Medicare tax amount for 16640?
For the employee, it's 241.28, and there's a like amount paid by the employer.
What percentage commission is paid to the account manager in an advertising agency?
In a advertising agency 15% commission is paid to the account manager. This is mostly the percentage on the total sales.
How Much Daily Credit Card Sales Does Lender Take Away When Getting Cash Advance?
Deductions are made primarily based on a fixed percentage of your daily Visa and MasterCard sales. The percentage is fixed, however the amount of the payment is not. The amount paid to business cash advance lender will rise and fall along with your daily card sales, giving your company greater flexibility than a traditional loan.
What is the percentage of the sales price paid to the salesperson?
Some sales persons are salaried and do not receive a percentage of sales price. Some companies are wholly owned by their employees and they all share in the company's profits as a bonus. In between these two extremes are commissions paid to sales persons and these will depend on the contract between the individual and the company.
How do you calculate employee mileage reimbursement?
Employee mileage reimbursement is usually a rate paid per mile. Multiply the amount of miles by the rate paid per mile to arrive at employee reimbursement. If an employee is paid 20 cents per mile, for example, and the employee drives 40 miles, then the reimbursement fee would be $8. 00.
What percentage of your wages is paid for unemployment in Texas?
Unemployment benefits are paid by the state which in turn collects its funds from the business. The employee does not pay into the fund.
How much would a t shirt store employee probably be paid?
A t shirt store employee would probably be paid minimum wage. That rate could increase with knowledge and work experience. At some stores, an employee might even make a commission on their sales.
