Voluntary Tax

Posts Tagged ‘payroll tax rates’

payroll tax rates

I would like to understand if there’re different tax rates for different salary items according to South Korean labor law or income tax law?

For example, a person’s income in Korea could include base salary, allowances (housing, commuting, etc.), seasonal/festival special bonus… When the payroll department calculates the withholding taxes for the employee, are there different tax rates to be used, say 20% for base salary but 40% for allowances? Or there’re only taxable components with universal tax rate and non-taxable items?

Thank you.

payroll tax rates

I would like to estimate what payroll is going to be before we have to pay it so we can budget accordingly. If I can get gross payroll hours and the rates, is there a formula I can use to estimate what the payroll taxes will be?

payroll tax rates

Need answers from accountants or payroll professionals please.

I don’t need to know any tax rates.

I should have the following deductions:
Social Security
Medicare
Federal Tax
Federal Unemployment
State Unemployment (SUI)
Is this correct?????

How often do I send a liability check to the State and Federal??? Monthly for each???

What tax forms do I have to fill out and when??

Thanks, any help is appreciated.

payroll tax rates

one that shows the percentage of taxes the government takes out so that i can calculate payroll taxes based on pay rate?
one that would show exact percentages not the actual amount taken out, like how much does fica take out, for example, do they take out 6% or 10%?

payroll tax rates

Regarding Obama’s proposal to lift the cap on the payroll tax (Which could increase effective tax rates to over 50% just federally in the maximum brackets, according to the WSJ) – what do you think of this argument.

I am so against this proposal personally. But when talking with a friend the other day who is self employed. He told me that he really needs about ,000 to live comfortably each year, but as it stands now it is a goal of his every year to earn as much as he can over 0,000 and work as hard as possible to earn as much over the 0k threshhold because his effective tax rate GEOS DOWN about 15% because Payroll taxes are no longer collected. He still pays i think 28% federally- but no payroll tax.

So he said he’d have no motivation to earn more than 100k and would just work a lot less if the cap was lifted. He said his motivation to earn more than that amount would be gone if the cap was lifted.

So what do you think could this proposal actually hurt the economy more?

payroll tax rates

I need the following tax withholding rates for California Employee payroll.

Disability, Unemployment, Employment Training Tax

payroll tax rates

I am just starting to do payroll for my husbands new company and when looking at his old pay stubs I saw his previous employer was taking out SDI tax. I cannot find this anywhere in my guides or on line, where would I find out if I need to do this? Thank you for any help!!
Thank you for your information. The paystubs are from his job in Washington so any ideas on how to handle the three years SDI was taken from his check?

payroll tax rates

If you make a commission on top of normal pay does it get taxed double the amount of your normal pay? We recently got a commission check and it was taxed twice but that makes no since to me since payroll taxes is only 7.65% (only medicare and social security).

payroll tax rates

According to a summary of the payroll of Scofield Industries Co., 0,000 was subject to the 6.0% social security tax and 0,000 was subject to the 1.5% Medicare tax. Also, ,000 was subject to state and federal unemployment taxes.

a. Calculate the employer’s payroll taxes, using the following rates: state unemployment, 4.2% ; federal unemployment, 0.8%

b. journalize the entry to record the accrual of payroll taxes.
those did not help at all. Can someone please help me answer this?

payroll tax rates

middle class?

In 2005, 47% of all tax returns reporting capital gains were from households with incomes below ,000, and 79% came from households with incomes below 0,000.

By the way, a higher capital gains tax rate isn’t the only middle-class tax increase that Mr. Obama is proposing. He also wants to lift the cap on wages subject to the payroll tax. That cap was ,500 in 2007 and is 2,000 this year. "Those are a heck of a lot of people between ,000 and 0[,000] and 0,000," said Mr. Gibson. "If you raise the payroll taxes, that’s going to raise taxes on them." Ignoring the no-tax pledge he had made five minutes earlier, Mr. Obama explained that such a tax increase was nevertheless necessary.

That’s 100 million Americans will be affected by the increase in capital gains tax, most of them middle class.

http://online.wsj.com/article/SB120847505709424727.html?mod=opinion_main_review_and_outlooks

Obama wants to raise it 28%, from its current rate of 15%, while Hillary said that if she was going to raise it, she would only raise it to 20%.
Don’t you understand, the US receives more tax reserves when they decrease the capital tax rate.