Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [payroll-taxes]

taxes deducted generally by a company directly from payroll as required by tax authorities. It is recommended that a country tag be used as rules vary from region to region.

taxes deducted generally by a company directly from payroll as required by tax authorities. It is recommended that a country tag be used as rules vary from region to region.

132 questions
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4 answers

Payroll tax on wheat given as wages

We have a farm in the US, with an employee paid with wheat rather than money. He is an ordinary employee that receives a W2. My accountant said that we don't have to withhold income tax or pay either employee or employer portions of FICA tax on his…
Kyle
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Is it normal to have 28.5% of various income taxes deducted from my paycheck?

I just got out of college, still live with the parents (saving up money) been employed for a year in the industry, and got a not bad starting salary. First check I received was shocking, to see 28.5% cut off for Federal + MA State + SS Employee. And…
user10857
17
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1 answer

How do payroll-deducted taxes get sent to the IRS?

What do employers do with the money they've withheld from you before they get sent in? Where do they deposit it?
teja
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13
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1 answer

Why did my last paycheck of the year have a big decrease in Social Security taxes taken out?

My last check from my employer this year shows a 60% decrease in the amount taken out by social security (FICA-OASDI). Net result is a larger take home amount. Does anyone know why that would happen?
4thSpace
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11
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1 answer

Why might Social Security employee deductions from paycheck vary across pay periods?

What percentage of salary deducts for an employee's Social Security contribution? And why will there be a difference in % deducted? My salary statement for October and September 2015 has the same hours and same hourly pay, yet I see a difference in…
balingentech
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9
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1 answer

With regards to a national insurance refund, what is my Work or Clock number?

So i got a letter from hmrc (UK tax) letting me know I'm due for a refund, and on one of the bits I need to fill out it asks me for my "Work or Clock number" for each job I've had during the tax year. I don't know what this is, and googling the term…
will
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9
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2 answers

What is the purpose of Social Security and Medicare deductions from my paycheck?

Sorry, this might be a basic question, but I'm having trouble understanding this, so would like to ask here. I've recently started a full-time position, and I notice that two things are being deducted from my salary in addition to income…
Sam
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9
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6 answers

How do I calculate net monthly salary (after taxes) in Germany?

If I were to say that my yearly, gross salary was 50,000 euros, then what would be my monthly net after-tax income? For example, this calculator looks OK to me: http://calculatenetsalary.com/calculate-net-salary-in-germany.html ... but I'm not sure…
ant
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8
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1 answer

Wage difference in pay period for same weekly hours worked

If I get paid biweekly, but missed a pay period, so get a check for four weeks instead, should not my net simply be double what I normally get for 2 weeks? They increased my tax deductions, so that my pay is less than what it normally would be if…
DAGMAR A COMER
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8
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1 answer

Can I live in Spain under a French contract?

Since July, I'm working remotely from Spain for a French company under a French contract. I'm Spanish, I've never lived in France. All of the salary related taxes are payed to the French government. I know I'll have to do some kind of income tax in…
Maragues
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8
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2 answers

Why do I have to pay Medicare payroll deductions while I am retired if I am still working?

If I am retired for the last 5 years, and I have Medicare, why do I still have to pay Medicare payroll deductions if I continue working?
Ubaldo Gutierrez
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8
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1 answer

How to pay myself as a single person corporation in Ontario? Should I get an accountant?

I'm an IT contractor and required in some of my contracts to have a corporation. I created my corporation, opened a corporate account and have been collecting income for about 6 months now... ... I should probably pay myself. I learned that there…
mgjk
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8
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2 answers

How much do I withhold for an employee receiving $2000 every two weeks?

I might soon be employing a single person, paying them $2000 every two weeks. How much should I be withholding? Can someone share how to perform these calculations (so in case it changes I can adjust) and what is the final breakdown? This is in…
gruszczy
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7
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1 answer

Incorrect FICA withholding by my employer

During my hiring process a few months ago, there was an error in my information delivered to or at payroll. They had thought I was on a student visa and did not have to pay FICA taxes. So that portion of my paycheck was never withheld. Now that the…
TsSkTo
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7
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1 answer

What happens If I Overpay Social Security Taxes?

Resource: Maximum social security tax income level for 2015. I work four jobs and just noticed on the second one, they're deducting social security taxes. The first job I work pays 99% of the maximum income level tax for social security (as of this…
user541852587
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