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How do I determine my payroll tax liabilities?

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Question ajoutée par Yazan Ahmad , programmer , wysada
Date de publication: 2017/01/16
Fadi Battah
par Fadi Battah , Admin And Finance Manager , Beijing for Import & Export LLC

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

Ahmed mohsen
par Ahmed mohsen , Senior Accountant , Main Poly Clinic

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.

Utilisateur supprimé
par Utilisateur supprimé

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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Rochelle Salvador
par Rochelle Salvador , General Accountant , Seoyong Emirates General Contracting

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.

Muhammad Nafees
par Muhammad Nafees , Accounts Executive , CAAS Building Solutions (A Trade cum construction company)

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.

Soliman Abd  ALmalak Gendy
par Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

I agree with the previous answer

Abdullah Aziz Eldain Morsi  Elgendy -        CMA  Candidate
par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

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

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