Victor Roberts <x...[at]lighting-research.com> wrote:

- quote -

Vic is correct. Your question suggests that you could easily
be missing other legitimate deductions or making other tax
reporting errors. You should engage the services of a local
tax professional (CPA or EA) who specializes in small
business taxation. In fact, you should have done that before
you started the business.

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DB" <x[at]x.com> wrote:

- quote -

Payroll taxes go on Line 17 of Form 1120 along with other
taxes, such as my state income tax; at least that is where
my accountant puts the payroll taxes. They are itemized
first on a separate statement he prepares and then a note is
put on Line 17 referring to that statement,

The more important issue is, if you need to ask this
question then you really need to talk to an CPA or other tax
professional. I keep my own books, but when I first started
my very small, one-employee, business I found a good CPA,
had enough face-to-face and telephone meetings with him to
understand how to keep my books and file the various Federal
and state quarterly returns, Forms 941, 940, NY-45-MN, etc.
However, he continues to be available for any questions I
have, reviews our books before year end to make sure I have
not made any mistakes, and prepares our Federal and state
income tax returns.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

When wages are paid to employees, a corporation has to
contribute additional amounts by matching their employees SS
and Medicare contributions. Are those matched amounts an
income tax deduction? If so, how and where on the corp
return (1120) is the deduction taken? Is added to the
"wages and salaries" category? Thanks.

DB

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >