- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Cash basis S Corp - when do i deduct FICA paid by the company? The year paid or the year that the corp incurred the liablity?
My S Corp paid the employer portion of my employee's 2017 FICA taxes in 2018 and the 2018 FICA taxes in 2019. The company is setup on cash basis accounting but i know there are exceptions to when expenses/deductions are taken for things like funding the employee's 401K. Do i take the expense for FICA taxes in the tax year they represent or the year actually paid? Thanks!
Topics:
‎June 3, 2019
12:30 PM