Vernal Equinox is the first. Vernal Equinox is the first day of Spring based on astronomical data. The same applies to other astronomical seasons, it may not feel at all like Spring, but the position of the Sun and the Earth dictate the astronomical time frame, not the weather conditions in a particular area.
For tax purposes, interest must be recognized annually on the amount of the loan at the stated rate. If there is no stated interest rate, or a below-market interest rate in the loan agreement, then interest must be calculated at the applicable federal rate.he forgiveness of any loan to an employee by Washington University is taxable compensation to the employee. The payment of the balance due of an employeeâs loan by the University is taxable compensation to the employee.
The payroll taxes withheld from your wages are not deductible, either from federal or any state income tax. For the year 2012, the Social Security payroll tax rate stood at 4.2 percent for employees, and 6.2 percent for employers. If you are self-employed, you pay both employee and employer shares through self-employment taxes, which you calculate using Form 1040, Schedule SE. The money funds the Social Security trust account, which is used to pay retirement and disability benefits to qualified applicants.