draw payment was taxed, are payroll taxes collected again at repayment?

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2007-02-20 12:43:51 · 2 answers · asked by ga 1 in Business & Finance ➔ Taxes ➔ United States

They will roll the grosses together, calculate tax and subtract what was already collected. You only pay tax once on your income.

2007-02-20 12:49:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋

The draw would be subtracted from the amount of the paycheck, and taxes charged only on any excess payment.

2007-02-20 12:50:24 · answer #2 · answered by Judy 7 · 0⤊ 0⤋