How do I determine my payroll tax liabilities?

your tax liability from payroll are the amounts that is deducted from the employees. those amounts are recorded in the withholding tax account in the liability section in the BS. the liability remains a liability until it get paid. the amount it self is calculated based on the valid tax law in your country

The payroll tax liability is comprised of the social security tax, Medicare tax, and various income tax with holdings. The liability contains taxes that are paid by employees, and taxes that are paid by the employer. The employer withholds those taxes that are paid by employees, and remits them to the applicable government authorities, along with the taxes that are paid by the company.

The payroll tax liabilities that are paid by employees are:

• Social security tax. The linked table contains the most recent tax rates.
• Medicare tax rate. The linked article contains the most recent tax rates.
• State and local income tax withholdings. This is not technically a tax, but rather an advance payment to the government on the income tax that employees will compute following the end of the tax year.

Your payroll tax liabilities will include the following: Social Security and Medicare taxes that were to be withheld plus your company's matching of those taxes.

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ayroll tax liabilities will include Social Security and Medicare taxes, worker compensation insurance, health insurance, pensions, vacations, and so on. it depends on your city, county, and state for any other payroll taxes.

Your payroll tax liabilities will include the following:

·         Social Security and Medicare taxes that were to be withheld plus your company's matching of those taxes.

·         State and federal unemployment taxes. Your state can tell you the rate for your company and the wages to which the rate applies. For example, it might be5% on the first $9, of annual wages and salaries. The federal rate (after credit) is0.6% on the first $7, of annual wages and salaries.

·         Check with your city, county, and state for any other payroll taxes.

In addition to the payroll taxes, you may have payroll related liabilities for worker compensation insurance, health insurance,-k contributions, pensions, vacations, and so on. Your liabilities will also include other payroll withholdings taxes that were to be remitted for the employee but have not yet been remitted.

This liability is comprised of all the taxes just noted (until they are paid), plus the amount of any Social Security and Medicare taxes that are withheld from the pay of employees