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Payroll Tax Expense
The financial charge associated with employing labor, including taxes imposed by government entities such as Social Security and Medicare taxes in the United States.
Current Liability
A financial obligation that is due to be paid within one year.
Notes Payable
Financial obligations or loans that companies are required to pay back within a specified timeframe, often evidenced by promissory notes.
Wage and Tax Statement
A document, typically a W-2 form in the U.S., that reports an employee's annual wages and the amount of taxes withheld from their paycheck.
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