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If identified as wages, taxed both Federal & State. The wages would have been taxed if paid without settlement wouldn't they? (The "lost" part isn't taxed).
Wages and salary are taxed identically.
Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it cannot exceed 50% of the settlement.
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of accounting, such wages must be accrued in the period earned regardless that they are paid in a subsequent period.
wages expense and wages payable
yes
It stands for Social Security and generally refers to the amount of your wages that will be taxed for Social Security purposes.
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of... entry is wages expenses are credit and outstanding wages are credit.
congress passed an imcome tax that was graduated
No. Areas of a settlement such as medical bills, lost wages, and pain and suffering are not taxed.
For tax year 2007, FICA stops being taken out on wages at $92,500. Wages received over that amount are not taxed. Sharon http://taxresolutionaries.blogspot.com
Yes English football players get taxed, actually they get taxed the same percentage as any other person in the UK, but 22% of their wages would be more than a person working in the public sector which would tend to be minimum wage because these companies seek to make profit. People in England should be taxed less cause in some cases people get taxed on a majority of their wages because of lower pay rate per hour (minimum wage- 18-20£4.98 16-17 £3.68) so no matter what the job is 16-17 year old personnelall have the same pay role, it just depends on the amount of hours work they do. All English footballers get taxed 22% of their wages, FACT.