If I am paying an employee 35,000 annually, the taxes will come out of that.
On the business plan tool it has payroll taxes under salary. Wouldn't this
take out twice as much taxes due to the fact that the taxes come out of
employees gross earnings?
JGabriel | Community Moderator |
1/9/2013 - 10:31 am
For salary you should put the gross salary (without taxes) which in your case would be 35,000. The payroll line item is where you should enter in the payroll taxes that will be taken out of your employee’s gross salary.
JGabriel | Community Moderator | 1/9/2013 - 10:31 am
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!