Pretax salary reductions A. Payments of at least $600 to independent contractors B. Annual nondeductible contributions of

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Pretax salary reductions

A. Payments of at least $600 to independent contractors
B. Annual nondeductible contributions of up to $6,000
C. Annual summary and transmittal of U.S. information returns
D. Allows employers to use any basis as the time period for payment of noncash fringe benefits
E. Employee’s Withholding Certificate
F. Withholdings from gross pay that reduce the amount of pay subject to federal income tax
G. Qualified employee discounts
H. Amount of money used to reduce an individual’s adjusted gross income to taxable income
I. Withhold federal income taxes of 24 percent of payments made
J. $20 or more in a month

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Payroll Accounting 2023

ISBN: 9780357722275

33rd Edition

Authors: Bernard J. Bieg, Judith A. Toland

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