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Article: Accrual method firms can get tax break on vacation pay, bonuses.(BUSINESS TAXES)
- Article from:
- The Kiplinger Tax Letter
- Article date:
- May 5, 2006
CopyrightCOPYRIGHT 2006 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Accrual method firms can get a tax break on vacation pay.
They can deduct payroll taxes on amounts accrued at year end, even though the funds aren't paid out until the next year, the IRS says in a private ruling. A company's deduction is limited to payroll taxes on vacation pay ...
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Article: WHIRLPOOL RETIREES GET OVERDUE VACATION PAY
Evansville Courier & Press;
April 8, 2006 ;
648 words
... ... that they were entitled to some past vacation pay. Lyman K. Roll, a Whirlpool retiree ... which for him amounted to five weeks of vacation pay, or about $3,680 in gross pay ... amount they received depended on how much vacation pay they were eligible for in 2005. Roll ...
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