payroll account
1Payroll tax — generally refers to two kinds of taxes: Taxes which employers are required to withhold from employees pay, also known as withholding, Pay As You Earn (PAYE) or Pay As You Go (PAYG) tax; and taxes which are paid from the employer s own funds and… …
2payroll deduction — UK US noun [C] ► HR an amount of money that is taken by an employer from an employee s pay, for income tax, insurance, etc., or the act of taking this money: »Employers are not allowed to bear the full expense of insurance premiums for their… …
3payroll taxes — The income taxes withheld from an employee s paycheck plus unemployment contributions and FICA contributions including both Social Security and Medicare that must be deposited into an IRS account. Category: Business, LLCs & Corporations →… …
4Payroll — In a company, payroll is the sum of all financial records of salaries, wages, bonuses and deductions.PaycheckA paycheck, or pay cheque in English, is traditionally a paper document issued by an employer to pay an employee for services rendered.… …
5Payroll service bureau — A payroll service bureau is an accounting business whose main focus is the preparation of payroll for other businesses. Such firms are often run by Certified Public Accountants, though a typical payroll processing company will refer to itself as… …
6Account Number — The primary identifier for ownership of an account, whether a vendor account, a checking or brokerage account, or a loan account. An account number is used whether or not the identifier uses letters or numbers. At one time, it was common to use a …
7Payroll Card — A type of bank debit card. Payroll cards draw on the user s wages or salary instead of a deposit account. Users access their money from an ATM or cash back purchase in the same manner as with a traditional debit card. Payroll cards are offered by …
8Payroll Deduction Plan — A contribution plan in which an employer deducts a specified amount from an employee s pay and puts the funds toward insurance, healthcare or an investment account. In most situations, employees enter into payroll deduction plans on a voluntary… …
9Flexible spending account — A flexible spending arrangement (FSA), or Flexible Spending Account, as they are commonly called, is one of a number of tax advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States. An FSA… …
10Health savings account — A Health Savings Account (HSA) is a tax advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal… …
