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How do I determine my payroll tax liabilities?

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Question added by Rana Alnajjar , Web developer , Lebcards
Date Posted: 2016/12/19
Nazmul Islam CMA
by Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

Payroll tax liability calculation is dependent on the payroll expenses & the local law for tax.

manseer muhammed ali
by manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

payroll tax liabilities will include the following:

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

2. State and federal unemployment taxes. ...

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

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

there is fixed rate of tax  put by the authorities  have to hold on  salaries like  social security ,Medicare,  federal with holding , that have to be paid as liabilities the next  entry will explain

                               debit          credit

wages  expense      300

social s   payable                       3

Medicare  payable                      1

federal  t, with holding                  1

cash                                             295

                                     

 

 

 

 

 

krishnamoorthy Achutham
by krishnamoorthy Achutham , DY Manager (Accounts) , M/S.DCW Limited,Sahupuram, Arumuganeri

You have to have the details of salary to paid to employees , If it is India you have to see the basic slab of IT and get the employees preference to save tax by investment and then accumalte the salary after investments and deductions then you have arrive a provisional tax liability.

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