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- 30-The employer provided the accommodation to its employee costing £50,000 with annual value of £1,500 and the official rate of interest of 2.5% during the tax year 2019/20. It is job related accommodation. Which one of the following is taxable benefit from the accommodation as per the UK tax laws? O a. £1,000 O b. £2,500 O c. £1,500 O d. None of the options43-Azzan's monthly salary is £2,000. During the month of August 2019, he received a payment of £1,900 and remaining amount is deducted by the employer and remitted to the HRMC. Which one of the following represents the deduction of £100 from his salary, as per UK Tax Laws? a. Pay As You Earn (PAYE) O b. Personal Allowance O c. Pay As You Spent (PAYS) O d. Annually exempted amountAssume the FUTA tax rate is 0.6% and the SUTA tax rateis 5.4%. Both taxes are applied to the first $7,000 of anemployee’s pay. What is the total unemployment tax anemployer must pay on an employee’s annual wages of$40,000? a. $2,400 b. $420 c. $42 d. $378 e. $0; employee’s wages exceed the $7,000 maximum.
- Question 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 $9040-The employer provided the job-related accommodation to his employee, the taxable ancillary services are restricted to of the employee's net earnings for the tax year 2019/20 as per the UK tax laws. O a. Maximum of 10% O b. Maximum of 20% O c. Minimum of 20% O d. Minimum of 10%19-Ali's calculated tax liability for the tax year 2019/20 is £9,000 and PAYE of £1,000 was deducted in respect of the employment income. Which one of the following is Ali's tax payable as per the UK tax laws? O a. £8,000 b. £9,000 O c. None of the options O d. £10,000
- 16. If you have an employee no exempt with $64,500 yearly salary, with 1 withholding single and biweekly pay, how much the employer need to deduct in income tax? A. $396.89 B. $410.20 C. $580.30 D. $590.01 LQuestion 15: Under the wage-bracket method for an employee who completed the 2021 Form W-4, what would the federal income tax withholding be if he/she is single, works one job, and has a weekly adjusted wage amount of $315? Answer: A. $0 В. $8 С. $14 D. $22Which of the following person’s income is chargeable to Hong Kong salaries tax for the year of assessment 2020/21? Select one: a. Income of employment of a person having foreign employment who visited Hong Kong for 30 days for duties during the year ended 31 March 2021. b. Income from employment of a person having a Hong Kong employment who rendered all services outside Hong Kong during the year ended 31 March 2021. c. None of the above. d. Director’s fee of a person who is a director of a company incorporated in Hong Kong, who resided in Australia and visited Hong Kong for 10 days during the year ended 31 March 2021.
- An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $8,500, and $3,400. During the current pay period, these employees earn $870 and $525, respectively. FUTA tax = $ What is the FUTA tax? The FUTA rate is for year 2022 The FUTA rate for this problem is 0.042%1. The original Social Security tax rate was _____ of taxable earnings. Answer: A. 10% B. 1% C. 5% D. 7% 2. The 2021 Social Security wage base is _____. Answer: A. $100,000 B. $113,700 C. $125,000 D. $142,800 3. What is the earnings threshold over which an employee whose filing status is Married Filing Separately will be subject to the additional Medicare tax? Answer: A. $117,000 B. $125,000 C. $200,000 D. $250,0004G ". 10:11 O O B 01:58:42 Remaining Multiple Choice An employee has a gross compensation income of P350,000 in 2019. His employer deducted P3,000 SSS, P1,750 Philhealth, P4,500 Home Development Mutual Fund, P2,800 union dues and P60,000 creditable withholding tax. Compute for the gross taxable compensation income of the employee: P277,950 P337,950 P340,750 P350,000 1 of 60 II
