Asked in Taxes and Tax PreparationIncome GarnishmentIncome Taxes
Taxes and Tax Preparation
What is the tax paid on the wages an individual earns?
Which of these terms forms lists the amount of medicare taxes that were paid during the year?
You can find the amount that you paid in Medicare tax on your W-2 form that you receive at January of the following year. The amount of Wages the tax was based on is listed in Box 5 and the tax paid is in Box 6. Medicare tax is imposed upon all wages paid to an employee. Social Security Tax is limited to the first $110,100 for 2012 and $113,700 in 2013. The Medicare tax is imposed on all wages earned.
Indian income tax?
tax is important sources of government. it meet all the expenss of human wellfare, developments so it chareged or levied by individual, HUF, fir and companies earning incomes or profit. Answer: Every individual who earns an income in India is entitled to pay Tax on the Income earned by him during that financial year to the government of India. Calculation of the Income Tax to be paid by an individual is a cumbersome process. The government of India provides certain benefits to its citizens who earn an income in the country by means of deductions, exemptions etc. 1. Salaries & Wages 2. Bonus & Commissions 3. Other Perquisite benefits Are all considered for the purpose of taxation in India
Asked in Income Garnishment, Liens
Can IRS file a tax lien at the same time garnishing the wages?
Asked in Taxes and Tax Preparation, Income Taxes
What was the average federal income tax per person collected in US in 2006?
Asked in Authors, Poets, and Playwrights
What has the author Deborah A Lasher written?
Deborah A. Lasher has written: 'Individual income tax paid in 1979 by residents and nonresidents and by filing status' -- subject(s): Income tax 'Individual income tax paid in 1977 and 1978 by residents and nonresidents' -- subject(s): Income tax 'Residential fuel, residential fuel conservation, and individual income tax credits claimed in 1979' -- subject(s): Income tax, Tax credits
Asked in Taxes and Tax Preparation, Income Taxes, Retirement Planning, Medicare and Medicaid, US Air Force
Is Medicare tax a progressive tax?
Asked in Sales Tax
Do you have to pay state tax in New Jersey buying a car from an individual?
How does the Rate of tax on vacation compare to the rate paid on income?
What are the two situations in which an employer would be liable for a net FUTA tax greater than 0.8 percent?
In some states, the wages subject to state unemployment tax are the same as the wages subject to FUTA tax. However, certain states exempt some types of wages from state unemployment tax, even though they are subject to FUTA tax (for example, wages paid to corporate officers, certain payments of sick pay by unions, and certain fringe benefits). In such a case, you may be required to deposit more than 0.8% FUTA tax on those wages. See the Instructions for Form 940 for further guidance. Technically you will be paying the 0.8% on the taxable wages required by FUTA. Complication arises because of some states not taxing certain wages ...
Asked in Taxes and Tax Preparation, Income Taxes
If you are paid by a 1040 are you considered self employed?
Who must file an individual income tax return?
Asked in Residence Types
Does a housing authority have to send a 1099 for payments to another housing authority?
Asked in Tax Forms
Should wages due on 01-01-10 but paid on 12-31-09 because of holiday be considered 2009 W-2 wages?
Yes. Form W-2 is Wage and Tax Statement. The cash method of accounting is used by many taxpayers. Under that method, wages are reported for the year in which they're paid. Any wages actually paid on December 31st are included in the total of wages paid for that year. For more information, go to www.irs.gov/formspubs for Publication 538 (Accounting Periods and Methods).
Do you pay taxes on the settlement of loss of wages claim?
Do you have to pay taxes on money being paid back to your employer?
What do you mean by direct tax and indirect tax give suitable examples also?
A direct tax is tax paid directly to the Government, by a person whom the tax is imposed on. An indirect tax is paid indirectly to the Government, trough a third party. A direct tax would be taxes like income taxes, where a person must personally pay a certain amount to the government. Indirect taxes are taxes such as property, social security, and sales tax, where there price of tax is either deducted from wages or added onto the payment of an item. The indirect taxes are paid the Government by the business that collects the tax.
If an individual inherits either real or personal property must they pay an inheritance tax?
What is social security payroll tax?
Payroll taxes generally fall into two categories: deductions from an employee's wages and taxes paid by the employer based on the employee's wages. The first kind are taxes that employers are required to withhold from employees' wages, also known as withholding tax, pay-as-you-earn tax(PAYE), or pay-as-you-go tax (PAYG) and often covering advance payment of income tax, social security contributions, and various insurances (e.g., unemployment and disability). The second kind is a tax that is paid from the employer's own funds and that is directly related to employing a worker. These can consist of fixed charges or be proportionally linked to an employee's pay. The charges paid by the employer usually cover the employer's funding of the social security system, and other insurance programs.