If the 5K is not deductible, is there some other place this should appear in my taxes? I am using QuickBooks self-employed and don't see a place for it.
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No the tax withholding from your employees is not deductible because it is a subtraction directly from your employee wages that you are required to submit to the IRS. You act as the trustee for the transfer so it is strictly an administrative task.
No the tax withholding from your employees is not deductible because it is a subtraction directly from your employee wages that you are required to submit to the IRS. You act as the trustee for the transfer so it is strictly an administrative task.
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