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What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
How do you treat withholding tax in the books?
Like any other accrued liability/account payable, own account is nice, not entirely nessasary. It is charged as part of payroll expense (which it is).
What type of tax is a tax on gas?
Expense Tax
Is a income tax benefit account a contra account of income tax expense?
The answer is no.A contra account to the "Income Tax Benefit (Deferred)" would be a "Income Tax Charge (Deferred)".
Payroll Tax Preparation?
form_title=Payroll Tax Preparation form_header=Get help with your payroll tax preparations from the experts. How far in advance do you prepare for your payroll tax? =_ Do you have last year's tax statements?= () Yes () No () Not Sure How many people on currently on your payroll?=_
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
How do you treat withholding tax in the books?
Like any other accrued liability/account payable, own account is nice, not entirely nessasary. It is charged as part of payroll expense (which it is).
What type of tax is a tax on gas?
Expense Tax
Is a income tax benefit account a contra account of income tax expense?
The answer is no.A contra account to the "Income Tax Benefit (Deferred)" would be a "Income Tax Charge (Deferred)".
What is the jounal entry to after-the-fact payroll where all taxes have been paid?
Debit - Payroll (Wages) - for the amount of the total gross wages. Debit - Payroll Tax Expense - for the amount of the EMPLOYER taxes. Credit - Cash
Which type of tax is used to finance the social security program in the US?
payroll tax
Is insurance an operating expense or general expense?
it depends on the type of insurance.. workers compensation insurance, health, dental, or vision are all payroll expense.. building insurance is an operating expense.. Payment of insurance premium should always be treated as general expense,to be shown in the debit side of the Profit & Loss A/c of a Company,whether it is payroll expense for its employees. While preparing individual Balance Sheet, payment of insurance premium where life, medical,home owner or else, should be shown as payment/expenditure and to claim benefits under Income Tax Act.
Payroll Tax Preparation?
form_title=Payroll Tax Preparation form_header=Get help with your payroll tax preparations from the experts. How far in advance do you prepare for your payroll tax? =_ Do you have last year's tax statements?= () Yes () No () Not Sure How many people on currently on your payroll?=_
How is research and development tax credit treated for income tax purpose?
i think as a pre operating expense, that is, an asset account.
What type of tax is reported on form 941?
You report employment [payroll] tax on quarterly on 941 and yearly on 940.
What merit goods do the US government provide through a payroll tax?
Health care is a merit good the U.S. government provides through a payroll tax. Medicaid is paid for by a payroll tax.
What is FICA payable and fica Expense?
I am doing a certified payroll report and am not certain what they mean can someone tell me what they mean on the paystub of the employee, FICA, FEDERAL STATE TAX and SDI
