Which of the following taxes paid by the Sill Engineering Company can be deducted during 2018?
I.Federal taxes withheld from employees.
II.Sill Engineering's share of employee's Social Security taxes.

Question

Which of the following taxes paid by the Sill Engineering Company can be deducted during 2018?
I.Federal taxes withheld from employees.
II.Sill Engineering's share of employee's Social Security taxes.
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Quizplus · Accepted Answer

Only the employer's share of Social Security taxes (statement II) can be deducted by a business. Federal taxes withheld from employees' wages are a trust fund tax that the employer holds and pays on behalf of the employee and cannot be deducted as a business expense.

Which of the Following Taxes Paid by the Sill Engineering