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Do partnerships have to pay unemployment taxes on the wages of their employees?
If your state declares your line of work/business as liable for the tax, then yes.
Do you have to file unemployment taxes this year?
If you got unemployment in 2012 you do have to file taxes if you didn't have the taxes taken out of the unemployment you received.
How do you journalize the entry to record accrual of payroll taxes 198.40 FICA taxes 19.84 federal unemployment taxes and 133.92 for state unemployment taxes?
debit taxes expenses 352.16credit payroll taxes 198.4credit unemployment tax 19.84credit state unemployment 133.92
Does a S-Corporation have to pay unemployment insurance?
Yes, an S-Corporation is generally required to pay unemployment insurance taxes for its employees. However, the corporation itself does not pay unemployment taxes on the income of its shareholders who are also employees, as long as they are actively working and receiving wages. Each state may have specific rules and rates, so it’s important for S-Corporations to comply with local regulations regarding unemployment insurance.
What is a base period employer?
Unemployment compensation is usually paid on the basis of wages earned in the "base period", which is generally the first 4 quarters of the last 5 quarters of wages completed. A "base period employer" is one you worked for in that period, who's account would be charged by the unemployment office through unemployment taxes. There could be more than one employer with that designation, depending on how many you worked for. Employers pay smaller taxes if their turnover rate is low as an incentive to retain employees.
When is a new employee liable for unemployment taxes?
He's not. The employer is the one who pays the state unemployment taxes.
Can company officers collect unemployment compensation in Pennsylvania?
Although corporate officer wages are subject to PA UC taxes they may only collect Unemployment compansation benefits in extreme cases, i.e., declared natural disaster, forced bankruptcy.
Can a lender garnish your wages and income taxes after repossession?
IF they have a JUDGEMENT for the balance due, they can garnishee your wages. Income taxes?? NO
Can you write off employee wages on your taxes?
Yes, you can generally deduct employee wages as a business expense on your taxes.
What percentage of your gross wages do you contribute to FICA taxes?
The percentage of your gross wages that you contribute to FICA taxes is 7.65.
Can Iowa unemployment garnish wages across state lines for overpayment?
I've had an unemployment overpayment in Iowa for nearly 10 years and have never had any of my wages garnished.
Can a business owner draw employment security from his own business if there is no work?
No Your income is the "OWNER'S DRAW" This is the money the business owner will draw from the businessfor personal living expenses.Variables to unemployment are taxes are based on the wages of the employees and each state has it own unemployment laws,.
