Contracts Act
Q: When is the filing deadline for an individual taxpayer who has no partnership or sole proprietor…
A: When is the filing deadline for an individual taxpayer who has no partnership…
Q: A pension asset is reported when
A: Answer: Pension asset is defined as the asset that is created due to pension plan for purpose of…
Q: What amount should be recorded as pension liability on December 31, 2021?
A: Pension liability = plan assets - projected benefit obligation
Q: The following information applies to the questions displayed below.] Corbett's AMTI is $623,000.…
A: Hello, I am using the 2020 year AMT exemption table:
Q: 7. Under the Equal Credit Opportunity Act (ECOA), it is unlawful to discriminate against an…
A: Equal Credit Opportunity Act The ECOA law is only applicable in the United States, ECOA law is…
Q: 51) Self-employed individuals are subject to the self-employment tax if their net earnings are more…
A: If an individual is self employed then that person is liable to self-employment tax if that…
Q: ____________ is the return filing deadline for an individual taxpayer who has no self-employment or…
A: Every Taxpayer should submit the details of its income through filling the return and should also…
Q: Rev. Rul. 54-593, 1954-2 CB 31 states, “There shall be excluded from gross income of an employee the…
A: Section 119 of the Internal Revenue Code of 1954 says that, The value of meals and lodging…
Q: 41. A pension liability is reported when the pension expense reported for the period is greater…
A: Solution Concept Funded status Funded status of the pension is calculated as =fair value of the plan…
Q: se of the Age Discrimination in Employment
A: The Age Discrimination engaged Act of 1967 (ADEA) protects bound candidates and staff forty years…
Q: Identify and describe the followings that are exempted from taxation. a. Some persons based on…
A: Income tax- Income tax refers to the tax that is levied on the earnings/ income of a person or…
Q: Employee business expenses are no longer deductible on Schedule A for federal purposes. Why are…
A: As per Schedule A, Employee business expenses are no longer deductible for federal purposes but they…
Q: Would education expenses incurred by a self-employed individual be allowed in 2021 for the following…
A: A self employed can deduct the cost of education required for his /her…
Q: pose of the Employee Retireme
A: The Employee Retirement Income Security Act of 1974 (ERISA) created preemptionprinciples that are…
Q: 32. Which is not prerequisite of Retirement benefit under RA/7541 and those received by officers and…
A: This is the question related to the Republic Act No.4917 Referring to Republic Act No. 4917 An Act…
Q: Question 25: Which statement regarding Form W-3 is inaccurate? Answer: A. Form W-3 contains earnings…
A: Correct option is (C) Form W-3 is submitted to social security administration and provided to each…
Q: 13-Under the Affordable Care Act , which employers are required to provide insurance coverage for…
A: It is the agreement between the insurance company which called insurer and person (insured) for for…
Q: 5. Which of the following deductions are not levied on the employer? a. Income taxes withheld. b.…
A: The question is related to the taxation. Some mandatory payroll tax deductions that employers are…
Q: The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support for…
A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…
Q: Married individuals filing separate Forms 1040 are not eligible to claim an exclusion for interest…
A: 16.True. To claim an exclusion for interest income earned on United states saving bonds used to…
Q: True or False. As per TRAIN Law, the excess de minimis benefits received may be added as part of…
A: SOLUTION EXPLANATION - SUBJECT TO THE RULE ON P90000 AMOUNT ON 13TH MONTH PAY AND OTHER BENEFITS…
Q: ost of first class airplane ticket of an employee is a taxable fringe benefit. a. True b. false
A: There are taxable and non taxable fringe benefits that any employee get on it some are paid and…
Q: Question 17: Which of these is NOT a regulation set forth within ERISA? Answer: A. Employees must be…
A: ERISA refers the Employee Retirement Income Security Act which is a federal law that sets minimum…
Q: if karen issues 1099 misc forms to her subcontractors what form does she submit to the federal…
A: Form 1096 is one of the form to be submitted to federal government. This form is also known as…
Q: Are there any exceptions to the protection afforded older workers by the Age Discrimination in…
A: No. The ADEA contains a number of exemptions that take into consideration obligatory retirement:…
Q: Question 12: Employees are required to contribute toward the purchase of disability insurance in all…
A: Amount for Long-term disability insurance is fully contributed by employers/companies for benefit of…
Q: Which of the following is a true statement with respect to FICA? Select one: a. W-2 employees and…
A: FICA is the Federal Insurance Contributions Act is what it is called, and it is taken out of every…
Q: Question 19: Which statement is incorrect regarding wage garnishments? Answer: А. They are only…
A: Wage garnishment is legal proceeding in which person earning required by court or legal proceeding.
Q: Question 6: Which of the following is not a voluntary deduction from gross earnings? Answer: A. O…
A: Paycheck: A paycheck is given by a business to pay a representative for services delivered. It is a…
Q: formation must the administrator of the pension fund supply to the participants ? -Under the…
A: Vesting-:Vesting is a formal term that implies give or receives a privilege to a present or future…
Q: Question 6: What is the earnings threshold over which an employee whose filing status is Married…
A: From 2013 onwards Additional medicare tax came into force.
Q: Which of the following statements is not correct?* a. The OSD is an amount equal to 40% of the…
A: Optional standard deduction is the one which is availed by the taxpayer to be subtracted from the…
Q: which of the following is not a COVID-19 tax relief provision available to a self-employed…
A: Solution- Section 80GG – House Rent Paid Deduction for House Rent Paid Where HRA is not Received…
Q: Title VII is the only law regulating equal employment opportunities. True O False
A: Title VII of the Civil Rights Act of 1964 prohibits discrimination in employment based on race,…
Q: 18. Emma's disability pension is reported as wages and considered earned income for the purposes of…
A: When an officer is invalidated out of a disability and it is aggravated by Military service and is…
Q: 35. In a defined-benefit plan, a formula is used that defines the contribution the employer is to…
A: solution concept defined-benefit plan defined-benefit plan is a plan where the benefit…
Q: 13) When completing his 2019 Form W-4, Fred Allert indicated he was married with three dependent…
A: Correct Answer = Option D = 5 Explanation Mr. Fred Allert was married with 3 depended children with…
Q: 57. What is the adjustment that must be made to taxable income in computing alternative minimum…
A: Alternative Minimum Tax(AMT): AMT is computed on the adjusted total income in united states. Its…
78-Are there any exceptions to the protection afforded older workers by the Age Discrimination in Employment Act ?
-Who is covered by the Walsh - Healey Public Contracts Act ?
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Solved in 2 steps
- 1-Which act sets the minimum wage, and what is the current wage rate? Under the FLSA , what information concerning employees ' wages earned must be maintained by the employer? 3-Who pays the social security taxes that are levied by the Federal Insurance Contributions Act ? How are the funds used which are provided by FUTA and SUTA? What types of unfair employment practices are prohibited by the Civil Rights Act of 1964 as amended? What is the purpose of the Age Discrimination in Employment Act ( ADEA ) ? Are there any exceptions to the protection afforded older workers by the Age Discrimination in Employment Act ? Who is covered by the Walsh - Healey Public Contracts Act ? Under the Family and Medical Leave Act , what is the maximum number of weeks of unpaid leave that a covered employer is required to offer an employee whose spouse is seriously ill ? What is the primary purpose of the Employee Retirement Income Security Act ( ERISA )? 11- Explain…2. Under the employers cannot discriminate against individuals based on race, religion, or gender. OMinority Amendment OCivil Rights Act OPrivacy Law OProtection Agreement Untitled document...pdf PDF hpWhich of the following is a fringe benefit that employers can discriminate among employees? Question 48 Select one: a. Health and accident insurance. b. Qualified employee discount. c. Employee educational assistance. d. None of the above.
- Section 188 of the LRA provides the means by which a dismissal can be determined to be fair or unfair. In the event of a claim that an employee was unfairly dismissed, what proof is an employer required to provide in order for the dismissal to be deemed fair?According to AASB 119, how should an employer's obligation for employee benefits be measured?Title VII is the only law regulating equal employment opportunities. Truc False
- Question 13: Which of the following is a true statement regarding the W-2 Form? Answer: А. Employers must submit the W-2 Form regardless of the amount of compensation paid to employees. Sending a copy of the W-2 Form to the employee is optional. C. The control number on the W-2 Form must be completed by the employer. D. The W-2 Form includes both federal and state tax information. B.According to the Montana Wrongful Discharge from Employment Act, what are the three elements of a wrongful discharge?Employers should have documentation that employees have agreed to all employer compulsory and voluntary deductions. Select one: O True O False
- Question 17: Which of these is NOT a regulation set forth within ERISA? Answer: A. Employees must be provided with pertinent retirement plan information. В. Employers are required to offer retirement plans. C. Fiduciaries of the retirement plan may be held accountable for breaches of responsibility. D. There are specific timeframes over which retirement plan benefits become nonforfeitable.Which of the following is incorrect in relation to termination benefits? A benefit resulting from termination of employment at the request of an employee without an entity offer is not a termination benefit. A benefit that is in any way dependent on providing service in the future is a termination benefit. A benefit resulting from mandatory retirement is a postemployment benefit rather than a termination benefit. The event that gives rise to an obligation for termination benefits is the termination of employment.Which type of deduction does not require the employer to have the employee's written permissi O Company-compulsory deductions O Legal deductions O voluntary deductions O All of the above