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T&M Billings

  • 1.  T&M Billings

    Posted 08-14-2017 11:05
    What are best practices for mid-year T&M billings for payroll taxes calculated on an annual taxable base wage (ie. SUTA/FUTA)?

    Larry Slad CPA
    Illinois Constructors Corporation
    Elburn IL
    (630) 232-7280

  • 2.  RE: T&M Billings

    Posted 08-15-2017 15:30
    Larry, for calculation of hourly rates, I most commonly see SUTA and FUTA costs are amortized over the 2,080 annual hours and the same rate is used until there is a change in some other component such as pay rate changes or WC rate changes.

    Tracey Fenolio CPA, CCIFP
    FCL Builders, LLC
    Itasca IL
    (630) 438-6466