Then this tax becomes a credit against the federal tax.

Monitor your expenditures and gain more flexibility to allocate funds where and when you need to. Audit Survival Tips Twenty tips for surviving an audit. Return for Non-Resident Partners and Shareholders rev. At the end of this lesson you'll be able to define wages subject to FUTA. Understand the consequences of an inflated salary and how you can protect yourself from an audit in case you're questioned. The drop in market value of the inventory can provide your company with added deductions.