Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why are city taxable wages sometimes higher than federal taxable wages?

city Federal taxable wages
0
Posted

Why are city taxable wages sometimes higher than federal taxable wages?

0

A City wages include all deferred amounts of income, 401K plans, Keoghs, etc, because these amounts are considered taxable when the money is earned. These amounts will be taxed by IRS and the State at a later date, probably when the taxpayer retires.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123