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Can a single member LLC that files a Schedule C deduct the employer portion of employee's state wages?
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Why wouldn't any entity be allowed to deduct gross payroll and employer payroll taxes (FICA/FUTA/SUI)? It's an ordinary and necessary business expense. Please respond with a reason you think they should not be deducting this,
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I don't think that they shouldn't. I was checking to make certain that state employer taxes are deductible. I know federal are... I checked regulations and couldn't find anything specific to state employer payroll tax deductions for a Schedule C.
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What employer portion of state wages? Theres state unemployment...what else doe the employer pay to state?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Unemployment and disability
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The employee pays the disability, not the employer.
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Why specific to a Schedule C ? Deductibility would be same for any business regardless of entity classification. Schedule C, SCorp, Multi Member LLC, Partnerships. Gross Wages + employer FICA match + federal and state unemployment taxes
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Is the Business Owner also the person getting paid through Payroll?
"Level Up" is a gaming function, not a real life function.
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No.
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According to payroll reports there is an employer contribution portion of disability.
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Income tax is not deductible for a sole proprietorship so I was simply asking about state employer payroll tax as I could not find the regulation.
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New Jersey workers and employers contribute to the cost of the temporary disability program. The contribution rate for employers varies from 0.10% to 0.75%.