Asked by
Emily Brooke
on Nov 15, 2024
Verified
The payroll tax expense is recorded quarterly only.
Payroll Tax Expense
Taxes that are incurred by an employer based on the salaries and wages of employees, including taxes like Social Security and Medicare in the United States.
- Identify the distinctions among multiple taxes and expenses noted in payroll accounting, encompassing federal, state, and unemployment taxes.
Verified Answer
IB
Learning Objectives
- Identify the distinctions among multiple taxes and expenses noted in payroll accounting, encompassing federal, state, and unemployment taxes.