Finance

Have Finance Questions? Ask a Financial Expert Online.

Ask an Expert,
Get an Answer ASAP!

Finance
This answer was rated:

Concerning employer payroll taxes, is the additional charge

called "credit reduction" on the...
Concerning employer payroll taxes, is the additional charge called "credit reduction" on the 940 Futa form
an expense for the employer?
Thank you,
Fred
Show More
Show Less
Ask Your Own Finance Question
Answered in 1 hour by:
2/24/2017
emc011075
emc011075, Tax adviser
Category: Finance
Satisfied Customers: 3,267
Experience: IRS licensed Enrolled Agent and tax instructor
Verified

Hi. My name is ***** ***** I will be happy to help you.

You are probably living in OH, CT, CA or Virgin Islands. The credit reduction is a tax just like any other. You will deduct it as FUTA expense (payroll taxes) on your business return.

Ask Your Own Finance Question
Customer reply replied 9 months ago
Thank you Eva.

You're welcome. Is there anything else I can help you with today?

emc011075
emc011075, Tax adviser
Category: Finance
Satisfied Customers: 3,267
Experience: IRS licensed Enrolled Agent and tax instructor
Verified
emc011075 and 87 other Finance Specialists are ready to help you
Ask your own question now
Ask emc011075 Your Own Question
emc011075
emc011075
emc011075, Tax adviser
Category: Finance
Satisfied Customers: 3,267
3,267 Satisfied Customers
Experience: IRS licensed Enrolled Agent and tax instructor

emc011075 is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,608 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,919 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
Can a personal service corporation be elected to be tread as
Can a personal service corporation be elected to be tread as S- Corporation? if yes, what are the steps?… read more
Carter McBride
Carter McBride
LLM
65 satisfied customers
I was thinking about filing for bankruptcy I lost my job a
I was thinking about filing for bankruptcy I lost my job a few months ago and I'm drowning in debt . What are the pros and cons for this ? I live in Georgia… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Can you answere these? Under a biweekly plan A. The total
Can you answere these?Under a biweekly plan A. The total interest paid would be less in the paid under a comparable monthly payment plan B. The total interest paid would be greater than the paid under… read more
Carter McBride
Carter McBride
LLM
65 satisfied customers
I seriously messed up my taxes. Well, I am a freelancer I
yes, and I asked for an extension and did not file within the due date I had a huge personal problem and now I am cleaning up the mess… read more
Carter McBride
Carter McBride
LLM
65 satisfied customers
If you have your own business and you are asked what is your
If you have your own business and you are asked what is your "gross income" do you include: 1. FICA as part of your Gross Wage Amount? 2. FICA witholdings as part of your Gross Wage Amount? 3. Do you … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I live in Georgia. I heard that because of Hurricane Irma,
I live in Georgia. I heard that because of Hurricane Irma, Georgia residents are given some tax breaks. Specifically, I was wondering about the IRA withdrawals for people under 59.5 … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
How does the New York Department of State take to send the
How long does the New York Department of State take to send the written consent to dissolve (TR-960) once you send your last return mark as final?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
I have a silver surety bond worth 100 Million backed by 21
I have a silver surety bond worth 100 Million backed by 21 silver coins from the 1930 or latter … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have had a large casualty loss in 2016. I have claimed
I have had a large casualty loss in 2016. I have claimed this loss in 2016. This is personal casualty loss (my primary residence burned down). It is not federally declared disaster area. However becau… read more
taxmanrog
taxmanrog
Master\u0027s Degree
717 satisfied customers
My wife and I would like to gift $50,000- to my daughter and
My wife and I would like to gift $50,000- to my daughter and son in law to purchase a home. How many checks should be made out, from whom should they come,, and to whom should they be payable Thank yo… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
My credit score is frozen. Please help me to unfreeze it. My
My credit score is frozen. Please help me to unfreeze it. … read more
Carter McBride
Carter McBride
LLM
65 satisfied customers
How much does your service cost? I have a consulting
I have a consulting business which is a single member LLC (a disregarded entity). As such, I roll up my business P&L under my personal tax return. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
I am starting a company that brokers building materials
I am starting a company that brokers building materials outside of the united states to customers outside of the united states. I am not sure how to structure my company, I live in California. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
My father wants to give me $100,000 to start a business.
My father wants to give me $100,000 to start a business. What would be the best way for him to do that. Would it make more sense as a gift to me or as a loan? … read more
Carter McBride
Carter McBride
LLM
65 satisfied customers
What is my tax rate on a short term gain of 35,000 when my
What is my tax rate on a short term gain of 35,000 when my income bracket is between 10 and 15 percent. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
I am about to received a qualified dividend from a C corp.
Hi. I am about to received a qualified dividend from a C corp. Can this be used to offset net capital losses (short term) from last year ?. or is it offset against long term capital losses ? … read more
Chad CFP ®
Chad CFP ®
Certified Financial Planner(R), Pro
Master\u0027s Degree
838 satisfied customers
In 2014 I bought a coop for 160,000. My daughter lived in it
In 2014 I bought a coop for 160,000. My daughter lived in it for 2+ years. It was unoccupied for 11 months before I sold it for 260,000. during the vacant time i paid 6,000 for maintenance to the coop… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
Weird situation. I moved from New Mexico to Nevada this
Weird situation. I moved from New Mexico to Nevada this year. I got my new lease in Nevada middle of June. I physically moved my furniture out June 6. My lease ran out in New Mexico July 30. Now New M… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,558 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x