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Employee responsibility to pay taxes on imputed income for educational reimbersment?
Ir it is reimbursed, it isn't imputed. Its a tax on afringe benefit, like getting a car or a house or such. Under certain qualified reimbursement programs with employers, up to @$5000 a year can be provided by an employer tax free to the employee, for qualifying eductaional expenses (not just anything).
What else can I help you with?
How does an employee pay imputed income taxes?
Imputed Tax is on imputed income...say like a taxable employee benefit (say your employer giving you a car). The value of the benefit is included in taxable income that withholding and such is determined from...so your estimated payments are made on it...and it is included in the taxable income on your W-2, so the tax you calculate on your retur includes it as well.
What is the basic imputed interest formula?
imputed interest
Does an employee pay Federal Income taxes on imputed income?
On certain (most) types of imputed income...imputed income just being a term for non cash compensation....say a car benefit or over a certain amount of life insurance provided as part of your employment.....etc. FICA and other payroll taxes may or may not follow the same rules considering it a income, but generally do.
What are classification responsibilities for supervisors?
A supervisor is expected to know what the employees are doing and able to redirect their actions if necessary. There fore the supervisor is, in general, responsible for the actions of employees. There is always the situation called "uncontrollable misconduct" where an employee does something the supervisor cannot be expected to have been able to prevent - then the supervisor is not considered to be responsible. In may cases, the supervisor's responsibility is as a management representative and ans not a personal responsibility but responsibility imputed to the company.
What is imputed Employer liability?
Also known as "vicarious liability."Under the doctrine of agency (or master and servant), an employer may be liable for actions (or inactions) by employees, if the liability arises within the scope of the employment. It is imputed to the employer who has (presumably) given the employee certain powers in the employer's name.For example, a pizza-delivery company could be liable for a vehicle collision caused by an employee attempting to make a quicker delivery, but not for injuries caused by an employee who stops at a bar and gets into a fight (outside scope of employment).
Where do you enter imputed income on your tax forms?
It depends on the type of imputed income. If it is imputed interest, enter it where all other interest payments go (schedule B). If it is imputed life insurance income from your employer, that should already be included in box 1 of your W-2 and you should enter it on line 7 of your W-2. You enter it wherever non-imputed income of the same nature would go.
What is a imputed tax?
Imputed federal income tax would be an income tax that the IRS has calculated on some type of imputed income that was received by you and not reported on your 1040 income tax form as a part of your worldwide gross income.
Why is imputed income deducted from your paycheck?
i have imputed income taken out of my check because a have a significant other on my insurance can i use this as a tax deduction
What is imputed amount?
Imputed is essentially another word for "inferred or implied". So imputed interest for example in an ninterest expense or income that is used when none, (or an unrealistic one) is claimed. It essentially says, the real interest is in the deal somewhere.
How do you spell imputed?
That is the correct spelling of the word imputed(attributed or inferred, usually negatively).
What Is imputed tax?
Imputed tax is when something is assigned a certain value. Other items are used to establish this value and then you pay taxes based on that value.
Is there value to lifetime use for real property?
Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
