Say that Hambro has a semimonthly payroll of 38,000 on September 15. The total payroll is taxable under FICA taxes HI; $32, 850 is taxable under FICA taxes OASDI; and 9,300 is taxable unders FUTA and SUTA. The sate contribution rate for the company is 3.1%. The amount withheld for fedral income taxes is 5,780. The amount withheld for state income taxes is 809.

How would I jounalize the payment of the wage, and record the payroll taxes on September 15.



Assume that the employees of Hambro, inc, nust also pay state contribution(disability insurance) of 1% on the taxable payroll of 29,300 and that the employee's contribution are to be deducted bt the employer. Journalize the September 15 payment of wages. Asming that the state contributions of the employees are kept in a separate account.

Sorry, tax season has started and I cannot answer these questions.

No time!

What this have to do with learning it

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Originally Posted by AtlantaTaxExpert

Sorry, tax season has started and I cannot answer these questions.

No time!

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What this have to do with me learning this stuff

Too Short:

It has NOTHING to do with you learning your lessons.

It has everything to do with my limited time availability. I answer real life tax questions during tax season, plus work on tax returns, plus work a full-time day job, plus have other family activities.

I cannot work on your lessons with you during tax season, because I simply do not have the time.

Thank for your time

Sorry I could not be more helpful!

Tax season gone so what's the answer. Not school. If it was it over now

If it is NOT lessons, then WHY are you doing it??

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Originally Posted by AtlantaTaxExpert

If it is NOT lessons, then WHY are you doing it???

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Just to learn it

Okay.

Unfortunately, I do not do payroll accounting, so I cannot adequately answer your question.