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Subjects>Business>Accounting

Are payroll taxes variable or fixed?

Anonymous

∙ 13y ago

Updated: 9/17/2023

Taxes are fixed, but may change at anytime.

Wiki User

∙ 13y ago

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Q: Are payroll taxes variable or fixed?

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Continue Learning about Accounting

Is payroll a variable cost?

If it is administrative payroll then it will not change as change in production of units so in this case it will be fixed cost. If it is selling payroll and if it is vary with the number of units produce or sale then it is variable cost.

Why is payroll classified as semi variable expenses?

Payroll contains the fixed part in the form of the basic salary or the wage paid. Other than that a worker might go for overtime and this comes under the variable part. Moreover any incentive such as commission etc also forms the variable part hence payroll is a semivariable expense.

What are examples of payroll taxes?

Social Security Taxes, FICA, and medicare are payroll taxes.

Can you deduct payroll taxes?

A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.

What is the payroll taxes on 16000.00?

1,700.00

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Related Questions

Is payroll a variable cost?

If it is administrative payroll then it will not change as change in production of units so in this case it will be fixed cost. If it is selling payroll and if it is vary with the number of units produce or sale then it is variable cost.

Is property taxes a variable cost?

no....its a fixed cost

Why is payroll classified as semi variable expenses?

Payroll contains the fixed part in the form of the basic salary or the wage paid. Other than that a worker might go for overtime and this comes under the variable part. Moreover any incentive such as commission etc also forms the variable part hence payroll is a semivariable expense.

What are examples of payroll taxes?

Social Security Taxes, FICA, and medicare are payroll taxes.

How are payroll taxes distinct from personal income taxes in terms of their impact on an individual's financial obligations?

Payroll taxes are taxes that are deducted from an individual's paycheck by their employer to fund programs like Social Security and Medicare. These taxes are separate from personal income taxes, which are paid by individuals directly to the government based on their income. Payroll taxes are typically a fixed percentage of an individual's income, while personal income taxes are based on a person's total earnings and can vary depending on deductions and credits. Payroll taxes are specifically earmarked for certain programs, while personal income taxes go into the general fund of the government.

What it payroll company does not pay payroll taxes?

Has this happened, or are you just curious? By law the payroll service has to pay the taxes to the government, that are with held.

Can you deduct payroll taxes?

A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.

Where can I learn more about payroll taxes?

There are certain software that will teach you about payroll taxes. There are also sites that will give you information on what you need to know about what payroll taxes are and which types exist. More information can be found at http://www.payroll-taxes.com/.

What is the payroll taxes on 16000.00?

1,700.00

What are the losses in payroll?

Taxes. ;D

How do you calculate payroll taxes?

With a calculator.

What is the journal entry for overpayment of payroll taxes?

debit payroll taxesCredit cash

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