what are the advantages and disadvantages of the payroll tax deferral?

Q: What payroll taxes is the employer responsible for paying?

A: Employer payroll taxes: The taxes which the employer must pay to the employees with their salaries…

Q: What is meant by a tax shelter?

A: Tax shelter is a provision for tax payer to deduct the taxable income. This provision gives certain…

Q: What is the term for the employer's mandatory payroll taxes that the government has written into…

A: A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the…

Q: who are benefits or do not benefit from payroll tax deferral?

A:

Q: What types of income should not be classified as such on a tax return? Why shouldn't they be…

A: Answer Nontaxable income won’t be taxed, whether or not you enter it on your tax return. nontaxable…

Q: Why do deferred taxes arise

A: The deferred taxes usually arise when there is balance of over or advance payment of taxes to an…

Q: Identify some of the reasons why accounting for income taxes is complex?

A: ANSWER : U.S. tax laws are complex and ambiguous.A company frequently prepares its financial…

Q: Income tax is least likely to impact on the resultant entitlement

A: Entitlement:Distribution or automatic exercise of a contractually or legally granted absolute…

Q: What is an unrecognized tax benefit and how does it affect a company's current income tax expense?

A: The Meaning of Income Tax: FASB defines income tax as a tax on earnings. It is measured in terms of…

Q: What is the tax implication if the employment is one of contract of service rather than contract for…

A: The tax implications for you differ depending on whether you're considered an employee (contract of…

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: Which of the following is not an employer payroll tax?

A: Federal income tax is the liability of the employee to pay tax on the income and is deductible from…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: What was the federal tax refund

A: This is the follow-up question and now the question is regarding the federal tax refund. This is the…

Q: What problems might create from payroll tax deferral?

A: Highlights of the payroll tax deferral scheme:- It applies to all those employees whose before tax…

Q: What are the advantages of claiming the standard deduction versus itemizing deductions on your…

A: Income tax:   It is the tax every individual or company is liable to pay on the income generated…

Q: What is a temporary difference related to deferred taxes?

A: Deferred Taxes:   The timing difference of tax effect called Deferred tax. Its recognized on all…

Q: Blank income is subject to federal taxes?

A: What is Federal Taxes?    Federal revenue enhancement is that the tax levied by the inner Revenue…

Q: earnings below a certain threshold are taxed. What is your opinion on the fairness of this tax?

A: social security tax is such type of tax in which a percentage of the gross wages that most of the…

Q: What are some common taxpayer penalties?

A: Common taxpayer penalties are those fines or penalties which are to be paid in case of non…