Derek Atkins <[EMAIL PROTECTED]> writes: > But how do you handle something like the FICA witholding in the US? The > witholding is 6.5% from the employee, 6.5% from the employer (i.e, it's a > payroll tax that's above and beyond the gross pay, and "must" come from the > employer).. But even worse, only the first $87,000 of taxable income is > subject to FICA witholding. So the function needs to know "how much have I > paid this person this calendar year" in order to properly compute FICA.
A related "global" sort of question is the making of withheld tax payments. A payroll system needs to tell you how much and when to ship off to the feds and the state tax people. The formulas to compute this are complex, and depend on the total amount outstanding and the timing of various withholdings. This is also an area where the rules change regularly, and in which failure to get them right can incur very serious penalties. Thomas _______________________________________________ gnucash-devel mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-devel
