|Payroll tax expense|
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Definition of Payroll tax expense
Payroll tax expense
The amount of tax associated with salaries that an employer pays to governments (federal, state, and local).
expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
The ratio of net income to net sales.
Money after-tax rate of return minus the inflation rate.
For investment companies, the management fee and "other expenses,"
A situation wherein participants in a transaction have different net tax rates.
taxes as a fraction of income; total taxes divided by total taxable income.
Total taxes owed divided by total income.
The ratio of net income before taxes to net sales.
The tax rate at which a party to a prospective transaction is indifferent between entering
Net income plus depreciation.
The argument that double (corporate and individual) taxation of equity returns makes
Rate of return required on a par bond to produce the same after-tax yield to
That portion of the total income tax provision that is based on
A federal Act requiring employers to withhold income taxes from employee pay.
Deferred Income Tax Expense
That portion of the total income tax provision that is the result
Deferred Tax Asset
Future tax benefit that results from (1) the origination of a temporary difference
Deferred Tax Liability
Future tax obligation that results from the origination of a temporary
A non-cash expense that provides a source of free cash flow. Amount allocated during the
An expense account that represents the portion of the cost of an asset that is being charged to expense during the current period.
Depreciation tax shield
The value of the tax write-off on depreciation of plant and equipment.
depreciation tax shield
Reduction in taxes attributable to the depreciation allowance.
Agreement between two countries that taxes paid abroad can be offset against
earnings before interest and income tax (EBIT)
A measure of profit that
Earnings before interest and taxes (EBIT)
A financial measure defined as revenues less cost of goods sold
Earnings before interest and taxes (EBIT)
The operating profit before deducting interest and tax.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
The operating profit before deducting interest, tax, depreciation and amortization.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
An earningsbased measure that, for many, serves as a surrogate for cash flow. Actually consists of working
EBDDT - Earnings before depreciation and deferred taxes
This measure is used principally by
Effective Tax Rate
The total tax provision divided by pretax book income from continuing
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Equivalent taxable yield
The yield that must be offered on a taxable bond issue to give the same after-tax
The reduction in value of an asset as it is used for current company operations.
The percentage of the assets that were spent to run a mutual fund (as of the last annual
Charged to an expense account, fully reducing reported profit of that year, as is appropriate for
The costs incurred in buying, making or producing goods and services.
Costs involved in running the company.
Federal Unemployment Tax Act (FUTA)
A federal Act requiring employers to pay a tax on the wages paid to their employees, which is then used to create a
Cost of doing business which does not change with the volume of business. Examples might be rent for business premises, insurance payments, heat and light.
fixed expenses (costs)
expenses or costs that remain the same in amount,
Foreign tax credit
Home country credit against domestic income tax for foreign taxes paid on foreign
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
What the business paid to the IRS.
A government tax on the income earned by an individual or corporation.
Income Tax Expense
See income tax provision.
Income Tax Provision
The expense deduction from pretax book income reported on the
taxes paid by consumers when they buy goods and services. A sales tax is an example.
The loss in purchasing power due to inflation eroding the real value of financial assets such as cash.
Interest equalization tax
tax on foreign investment by residents of the U.S. which was abolished in 1974.
Interest tax shield
The reduction in income taxes that results from the tax-deductibility of interest payments.
interest tax shield
tax savings resulting from deductibility of interest payments.
Investment tax credit
Proportion of new capital investment that can be used to reduce a company's tax bill
Investment Tax Credit
A reduction in taxes offered to firms to induce them to increase investment spending.
Limited-tax general obligation bond
A general obligation bond that is limited as to revenue sources.
management expense ratio (MER)
The total expenses expressed as an annualized percentage of daily average net assets. MER does not include brokerage fees and commissions, which are also payable by the Fund.
Margin Tax Rate
The tax rate applicable to the last unit of income.
Marginal tax rate
The tax rate that would have to be paid on any additional dollars of taxable income earned.
marginal tax rate
Additional taxes owed per dollar of additional income.
Marginal Tax Rate
Percent of an increase in income paid in tax.
The amount of expense incurred for the general operation of an office.
Any expense associated with the general, sales, and administrative
The total amount that was spent to run a company this year.
The amount of money the company must spend on overhead, distribution, taxes, underwriting the risk and servicing the policy. It is a factor in calculating premium rates.
The period of service for which a company compensates its employees.
The amount paid to employees for services rendered; synonymous with salary expense and wage expense.
A journal used to record the payroll of a company.
A report on which is summarized the wage and deduction information
This calculation is used by states to determine the unemployment
Payroll taxes payable
The amount of payroll taxes owed to the various governments at the end of a period.
Personal tax view (of capital structure)
The argument that the difference in personal tax rates between
An expenditure that is paid for in one accounting period, but which
expenses that have been paid for but have not yet been used up; examples are prepaid insurance and prepaid rent.
Profit before interest and taxes (PBIT)
A tax in which the rich pay a larger percentage of income than the poor. Contrast with regressive tax.
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
A tax taking the same percentage of income regardless of the level of income.
A tax in which the poor pay a larger percentage of income than the rich. Contrast with progressive tax.
The amount of expense paid for the use of property.
Operating expenses that vary in proportion to
Roth IRA. An IRA account whose earnings are not taxable at all under certain
The amount paid to employees for services rendered; synonymous with payroll expense and wage expense.
A tax levied as a percentage of retail sales.
What was spent to run the sales part of a company, such as sales salaries, travel, meals, and lodging for salespeople, and advertising.
Short-term tax exempts
Short-term securities issued by states, municipalities, local housing agencies, and
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
State Disability Tax
A tax charged by selected states to maintain a disability insurance
Statutory Tax Rate
The income tax rate that is stated in income tax law. It is applied to taxable
TANs (tax anticipation notes)
tax anticipation notes issued by states or municipalities to finance current
Tax anticipation bills (TABs)
Special bills that the Treasury occasionally issues that mature on corporate
tax benefit (of depreciation)
the amount of depreciation deductible for tax purposes multiplied by the tax rate;
Set of books kept by a firm's management for the IRS that follows IRS rules. The stockholder's
Tax clawback agreement
An agreement to contribute as equity to a project the value of all previously
postponing taxation of an amount until a future date
Tax deferral option
The feature of the U.S. Internal Revenue Code that the capital gains tax on an asset is
current compensation that is taxed at a future date
Tax-deferred retirement plans
Employer-sponsored and other plans that allow contributions and earnings to
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
current compensation that is never taxed
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