25% b. 100% C. 50% d. none e. 75%
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- Question 5: How much Social Security tax would be owed by an employee who has taxable earnings for Social Security tax of $2,000, and who, prior to the current pay period, has earned $142,500 of taxable earnings for Social Security tax? Answer: A. В. O $18.60 С. O $105.40 D. O $124.00Question 3: How much FUTA tax would an employer in a non-credit-reduction state owe if an employee has earned $6,400 to date and has current period taxable pay of $1,500? Answer: A. O $3.60 В. O 59 C. O $36 D. O $901. What self-employment tax rate is applied to earnings that exceed $142,800 in a year and also do NOT exceed the additional Medicare tax threshold? Answer: A. 15.3% B. 12.4% C. 2.9% D. 1.45% 2. What is the standard credit applied to the FUTA tax rate in non-credit reduction states? Answer: A. 0.6% B. 0.9% C. 5.4% D. 6% 3. An employer in a non-credit reduction state would pay FUTA taxes of _____ for an employee whose year-to-date earnings prior to the current period are $7,200 and who earns $1,100 during the current period. Answer: A. $0 B. $6.60 C. $43.20 D. $49.80
- Question 1: What is the self-employment tax rate levied on the first $142,800 of 2021 net self-employment income? Answer: А. 2.9% В. 12.4% C. 15.3% D. 18.2%Question 18: What is the total Medicare tax rate for an employee who is subject to both standard Medicare tax and Additional Medicare tax? Answer: А. O 2.35% В. O 2.45% C. O 6.2% D. O 7.65%Question 16: What is the maximum amount of dependent care benefits an employee who files as Single on his tax return can receive in a year? Answer: A. O S2,500 В. O 5,000 С. O 57,500 D. O $10,000
- Question 10: What types of wage garnishments are typically satisfied before others? Answer: A. Student loan payments and state/federal tax levies В. Alimony and child support payments С. O Child support payments and federal tax levies D. O State and federal tax leviesQuestion 14: The original Social Security tax rate was of taxable earnings. Answer: A. 10% O 1% С. 5% D. 7% B.What is the monthly net take home pay? * A. P25,000 B. P24,486.67 C. P23,385 D. P22,871.67
- Question 2: If an individual whose filing status is single earns $256,000 during the year, what portion of the earnings are subject to Additional Medicare Tax, and what is the total (standard and Additional) Medicare Tax rate that will be applied to these earnings? Answer: A. O $6.000 and0.9% В. O $6.000 and 2.35% C. O 556,000 and 0.9% D. O 556.000 and 2.35%9. How much is the annual retirement benefit expense for the year ended December 31, 2021? ₱ 312,902 ₱ 104,301 ₱ 1,390,675 ₱ 417,2036., RST Company offers a qualified retirement plan. Each employee contributes 4 percent of his or her pretax income to the plan, and RST matches each employee's contribution. An employee's benefit at retirement is determined by his or her account balance at the time of retirement. What type of retirement plan does RST offer? a. Defined contribution plan. b. Defined benefit, flat percentage of annual earnings c. Defined benefit, unit-credit formula. d. Defined benefit, flat dollar amount for all employees
