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What else can I help you with?
What are taxing wages?
Taxing wages would have to be wages that you have worked for and earned by providing services for an employer.
What account shows the total gross earnings that the employer incurs as an expense each payday?
Wages expense
Is wages expense an asset?
No, wages expense is not an asset; it is classified as an expense on the income statement. It represents the cost of labor incurred during a specific period and reduces net income. While wages payable, which refers to wages owed to employees, is a liability, the actual wages expense reflects the outflow of resources rather than an asset.
Can you sue your father for not paying you your legally earned wages?
If your father is not paying you your legally earned wages, you can sue him as you would any other employer. For more information, it is suggested you speak with an attorney.
Is Wage expense an account that is used for wages earned but not yet paid?
When using the accrual method of accounting, expenses are recognized when they're incurred, rather than when they are paid. Consequently, wage expense (or almost any expense, for that matter) is recognized in the period during which it was incurred, in this case, when it was earned by the employee.Depending on the manner in which people are paid, on any given balance sheet date (usually the last day of each month), there may be wages earned, but which won't be paid until the beginning of the next month, i.e. the next pay date. Therefore, at the end of the month, we "accrue" the unpaid wages to recognize the expense incurred. This ensures the expense is reported in the proper period.A similar concept applies to revenues using the accrual basis of accounting.
How do you deduct wages earned but not paid?
If the wages were not paid to you, then you didn't pay any taxes on them. You already got your deduction, you can't have a second one. If you are saying that your employer put wages on your W-2 that he didn't pay you, then ask your employer for a corrected W-2.
Is PAYG an expense?
PAYG (Pay As You Go) is not an expense itself but rather a tax withholding system used to collect income tax and other mandatory contributions from employees' wages. The amounts deducted under PAYG can be considered an expense for the employer, as it reflects the cost of labor, but for employees, it represents a prepayment of their income tax obligations. Ultimately, while PAYG impacts cash flow and budgeting, it is a mechanism for tax collection rather than a direct expense.
Which account shows the total gross earnings that the employer incurs as an expense each payday?
The account that shows the total gross earnings that the employer incurs as an expense each payday is typically referred to as "Payroll Expense" or "Wage Expense." This account includes all gross wages, salaries, and any additional compensation before deductions such as taxes and benefits. It reflects the total cost to the employer for labor during the pay period.
Is wages expense an operating expense?
yes
Can a Ca employer hold an employees wages?
There are situations where a California employer can hold an employee's wages. If the employee's wages are being garnished the employer can hold them.
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
Is wages due debit or credit?
wages is expense and expense is debit salary is income and income is credit
