0
What is a the difference between an income tax and a payroll tax?
Wiki User
∙ 10y ago
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Litzy Jaskolski
Mossie Lueilwitz
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Melyssa Goodwin
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Trycia Shanahan
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Wiki User
∙ 10y agoPayroll tax is only the tax retained by your employer on your salary. Income tax concerns all income from whatever other sources (e.g. from capital, rents and income where payroll tax was not retained) that are taxable in your country. In your income tax statement you deduct the payroll tax already paid by your employer.
Wiki User
∙ 15y agoIncome taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Anonymous
Tf
Add your answer:
Earn +20 pts
Difference between income tax act and income tax rule?
The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.
Difference between income tax and withholding tax?
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
Is Payroll Tax considered Income Tax?
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
What is the difference between income taxes and payroll tax?
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
What is the difference between income and payroll tax?
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Difference between income tax act and income tax rule?
The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.
Difference between income tax and withholding tax?
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
Is Payroll Tax considered Income Tax?
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
Whats the difference between tax free income and taxable income?
You pay tax on taxable income and you don't on tax free income
What is FITW in payroll?
Federal Income Tax Withholding.
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
What is the difference between Accrued income tax and deferred income tax?
we dont have an idea either. thanks wharton
What is a tax on what people earn?
Depending on how broad your interpretation of "earn" is, it can be a wage tax, a payroll tax, or an income tax.
What is the difference between income tax and service tax?
Income tax is the tax that is charged to your income that can be paid with the preparation of tax forms or is withheld from your paycheck. Service tax refers to the tax that is charged for services, like care repair.
