How to Calculate Taxes Payable?

Answer Every company and business must pay its share of taxes if it is in business to make a profit. The amount of tax the business must pay depends on several factors, but ultimately it is a percentage o... Read More »

Top Q&A For: How to Calculate Taxes Payable

What Is Taxes Payable?

Taxes payable is more commonly referred to as income taxes payable. Income taxes payable is a term in accounting that records income taxes due to local, state and federal governments. The account t... Read More »

How to Withhold Taxes Payable?

Withholding taxes are the federal and, in most cases, state payroll taxes that employers are required to deduct from employees' paychecks. Federal withholding taxes are federal income tax, Social S... Read More »

What is income taxes payable?

Most individuals file tax returns and pay income taxes. Many businesses pay taxes as well. Income for sole proprietorships and partnerships flows through to the individual owners' tax returns. Corp... Read More »

How to Calculate Payable Sales Tax?

In most states, consumers must pay a sales tax on purchased items such as cars, electronics, books and clothing. The tax rate varies from state to state--as does the items that are inclusive of the... Read More »