Payroll Taxes

Andrew Sackville-West andrew at swclan.homelinux.org
Fri Jan 11 12:19:54 EST 2008


On Fri, Jan 11, 2008 at 08:40:48AM -0800, Andrew Sackville-West wrote:
...
> 
> 2) You can see what your payroll tax expense is without worrying about
> whether that includes employee paid amounts or not.

a little more on this one:  you can then make predictions more
easily. THe "Expense" way, if you want to increase someone's pay from
$10.00 to $12.00 say, then you have to look at a payroll txn, and see
that so-and-so is paid $8.00 net on a payroll on $10.00 and then add
back in the taxes, do the math to determine that your expense above
the $10.00 is $2.00 or 20% of gross payroll. In the method I'm
showing, you merely look and see (or quickly divide, for numbers that
aren't so nice) because the employer's expense is clearly listed. This
becomes a real factor when you have a real payroll txn. My employee's
payroll txns are easily 12 splits and many times more than
that. Having to pick through 12 splits of expenses to add them up to
get your cost is much different than having to find the one Payroll
Taxes expense split. (I lump all my payroll taxes into one expense
account)

A
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