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What are withholdings?
Withholdings are funds that are deducted from an employees paycheck for taxes as well as for payment of benefits that the employee is responsible to pay. As far as withholdings of taxes, there is the employee share of Social Security and Medicare Taxes as well as the withholding of federal, state, and local income taxes. The withholdings are not payment of the income taxes but a payment toward whatever their income taxes might be. The employee will file a tax return after the end of the calendar year at which time the years withholdings will be prepayment of the tax owed on the return. If the withholdings are more that the tax is then the taxpayer will receive a refund but if the withholdings for income tax are not enough then there will be a balance due from the taxpayer that they have to pay.
What is one activity that is not supported by America's Job Bank Website?
Applicants can calculate their tax withholdings
Is it true that net pay will vary according to the amount of withholdings?
Net pay will vary according to the amount of withholdings.
What is another name of withholdings?
Another name for withholdings is "payroll deductions." These are amounts deducted from an employee's paycheck for taxes, insurance, retirement contributions, or other benefits. Withholdings are typically required by law and are designed to prepay income tax and other obligations.
What are the release dates for New York Naval Reserves - 1898?
New York Naval Reserves - 1898 was released on: USA: July 1898
What are the release dates for American-Chinese Naval Reserves - 1899?
American-Chinese Naval Reserves - 1899 was released on: USA: May 1899
Which one of these is not an employees withholdings?
investment earnings
What is the definition of net income?
the amount of paycheck after withholdings
Which one of these is not an example of an employees withholdings?
Investment Earnings
Can you increase tax withholdings to offset 401k contribution?
yes
Is the best definition of net income?
the amount of paycheck after withholdings
What are the release dates for California Naval Reserves Drilling on Board Ship - 1902?
California Naval Reserves Drilling on Board Ship - 1902 was released on: USA: September 1902
