Remove medicare-taxable-wages
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What Is Imputed Income? | Payroll Definition and Examples

Patriot Software

As an employer, you are likely familiar with reporting regular wages and taxes withheld on Form W-2. And, it is the cash or non-cash compensation taken into consideration to accurately reflect an individual’s taxable income. Employers must add imputed income to an employee’s gross wages to accurately withhold employment taxes.

Payroll 45
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Payroll Taxes 101: What Employers Need to Know

Zenefits

Not only can this mess up your bookkeeping and cause additional work for your payroll team, but it also makes for unhappy employees. Two-thirds of employees say they would have trouble meeting their current financial obligations if there were a payroll error or delay, according to Kronos. What are payroll taxes?

Payroll 36
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What is a statutory employee? Definition and examples

Workable

This classification not only affects payroll and tax reporting but also influences employment rights and benefits. Statutory employees are subject to Social Security and Medicare taxes, but unlike regular employees, they are exempt from federal income tax withholding. Understanding who qualifies as a statutory employee in the U.S.

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