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Re: 145k at the open

By: Cactus Flower in ALEA | Recommend this post (0)
Fri, 15 Jun 12 7:09 PM | 86 view(s)
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Msg. 08465 of 54959
(This msg. is a reply to 08464 by tkc)

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Hi tkc,

I am no payroll expert. But looking things up, I think you are right. I was extrapolating from the practice of payroll service companies, which in my experience remove the payroll tax at the same date the net payroll is paid. I guess they sit on the money they withdraw monthly until the payment date.




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The above is a reply to the following message:
Re: 145k at the open
By: tkc
in ALEA
Fri, 15 Jun 12 6:58 PM
Msg. 08464 of 54959

Hi CF, unless things have changed, payroll taxes are are expensed and a reserve established. Paid quarterly (15 or 30 days after Q closes I think).


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