Determine the employee's total income tax deduction for this pay period. Your answer:
Q: Identify two different types of deductions that an employer is required to subtract from a
A: There are several deductions from paycheck but two are absolutely necessary other are optional.
Q: The wage base for unemployment compensation taxes are: a. all wages paid but not including those…
A: The correct answer is Option (a).
Q: All employees are required by law to deduct an amount of tax know as
A: The individuals in United states enjoy medicare and social security schemes for which certain taxes…
Q: What is the term for the employer's mandatory payroll taxes that the government has written into…
A: A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the…
Q: can you help me how to Explain how an employer can receive a credit against the FUTA tax due.
A: FUTA stands for Federal Unemployment Tax Act under federal law of US. FUTA tax is paid by the…
Q: a. Assume that Eva is concidered to be an employee. What amount of FICA taxes is she required to pay…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…
Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name…
A: Income tax liability means every individual should pay taxes to government on amount of income…
Q: Contributions of the employer for the benefit for the benefit of the employee to retirement,…
A: Income tax: It is the amount a person is liable to pay on the earned amount in an accounting…
Q: Which of the following taxes is paid by the employee only? Choose the best answer. Group of answer…
A: Tax is compulsory payment made by the assessee to the government .
Q: Rent payments that are processed through a third-party net work after March 11, 2021, should be…
A: GIVEN Rent payment that are proceed through a 3rd party network after March 11,2021 should be…
Q: How do I account for an advance to an employee and the resulting deduction?
A: An advance to employee means to pay the salary or money to such employee before the due date.
Q: All of the following are employer payroll taxes except. Multiple Choice Social Security tax equal to…
A: Payroll taxes are those taxes that are deducted from salary of employees unordered to pay social…
Q: Which of the following taxes has a ceiling and is only paid by the employer? Group of answer choices…
A: Income taxes is the amount that is charged by the government on the income earned by an individual…
Q: A. Find the employer's FICA deductions for each of the following employ B. Find the amounts of the…
A: This question is based on the real time interest rate for social security, Medicare and FUTA. Total…
Q: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…
A: The employer makes deductions from the employee’s salary and therefore there is some legal…
Q: Which of the following taxes would be deducted in determining an employee’s net pay? a. FUTA taxes…
A: Net pay: It can be defined as the amount that is taken by an employee to its home in the form of…
Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name…
A: For Year 2020 Head of Household 0 to $14100 10% tax 14101 to 53700 12% tax 53701 to 85500…
Q: TRUE OR FALSE A minimum wage earner is not only tax exempt on his basic salary but also on holiday…
A: Minimum wage earners as defined in Section 22(HH) of this Code shall be exempt from the payment of…
Q: Compute the additional tax due or refund they have when filing their tax return.
A: It has been given in the question that the withholding tax has been $11,000 and there is a gross tax…
Q: Which of the following would be considered a tax benefit or advantage of a qualified retirement…
A: Answer: Option 4.
Q: Salaries Expense Social Security Tax Payable Medicare Tax Payable Employee Federal Income Tax…
A: Given: Salary expense = $12,400
Q: If I receive a return to work payment of $20,000 and it is classified under statory income. What…
A: Ordinary income: it is the income which ordinarily acquired. For a person it can be wages and for…
Q: stion 1: Under the wage-bracket metnod for an employee who completed the 2021 Form W-4, what would…
A: As per IRS , the employers are suppose to withhold the specific part of the…
Q: What are some of the other types of income that must be reported on an taxpayer's tax return? How is…
A: Taxable income is any remuneration received by a person or corporation that is utilized to evaluate…
Q: is the tax payment deadline for all individual taxpayers regardless if they have self-employment or…
A: 31 december 2021 is the extended tax payment deadline for all individual taxpayers regardless if…
Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name…
A: Taxes are the main sources of revenue for the government. Every government imposes tax on the basis…
Q: Employees are subject to taxes withheld from their paychecks. Please indicate the federal taxes…
A: Payroll tax: This is the tax which is withheld by an employer from the pay of the employee and…
Q: Please explain the tax implications of compensation in the form of salary and wages from the…
A: SOLUTION COMPENSATION IN THE FORM OF SALARY AND WAGES : COMPENSATION REFER TO THE CASH PRIZES THAT…
Q: Payroll tax expense related to this employee will be:
A: Income tax refers to the amount paid by an individual or company to the government for financing the…
Q: How are the electronic tax deposits transferred from the employer’s account to the IRS?
A: The employer is having two options for transferring the electronic tax deposit to the internal…
Q: For each employee listed, use the wage-bracket method to calculate federal income tax withholding,…
A: In the given question we are required to calculate Federal, State, and Local Income Tax Withholding…
Q: o tax? Describe each. Thank you in advance
A: Usually, all incomes and value additions are taxed as income tax. Income tax is a direct tax which…
Q: FICA, a tax that every employer must pay has two parts. What are they? List them
A: FICA is a mandatory payroll tax equally split between employees and employers. Unlike federal income…
Q: How is the Self-Employment (SE) tax calculated? What types of income are subject to the SE tax
A: Self-employment tax is a combination of Social Security and Medicare taxes The self-employment tax…
Q: Explain the tax treatment of provision of accommodation or housing benefit to an employee
A: Income Tax treatment of provision of accommodation or housing benefit to an employee : Employers…
Q: Which is a factor in determining federal income tax withheld? A. Level of wages B.…
A: Answer - When you file your federal taxes, the amount of tax you owe is based on a number of…
Q: The amount of compensation subject to OASDI tax is correctly defined as Select one: a. all amounts…
A: OASDI (Old Age, Survivors, and Disability Insurance program) tax is a tax levied by IRS on all…
Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer.…
A: In this question, we will calculate the tax liability of Rua by using the Tax Rate Tables, Exhibit…
Q: All of the following income items are includible in an employee's gross income except: a, Severance…
A: Gross income Individuals' entire earnings before taxes or other deductions are referred to as their…
Q: TaxpYer who make after-tax contributions to a qualified employer plan recover their investment cost…
A: Taxation: Taxation refers to the imposition of compulsory financial obligation by the government on…
Q: which of the following is not a covid-19 tax relief provision available to a self-employed taxpayer?…
A: Step 1 Tax relief is an initiative that is designed to reduce the amount of taxes paid by…
Q: The maximum amount of self employment income subject to social security (OASDI) tax in 2018 is?
A: Self-employment income: Self-employment income is earned from carrying on a "trade or business" as a…
Step by step
Solved in 2 steps
- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.Dianne works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on a semi-monthly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for Dianne's coverage are a non-cash taxable benefit of $32.00 per pay. Dianne participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $28.00 in union dues each pay. Her Québec deduction code is C. Determine Dianne's provincial income tax deduction per pay period. Your answer:Gloria works for Joseph Industries located in Sherbrooke, Québec. She earns $22.56 per hour, works 40 hours per pay period and is paid on a weekly basis The company provides its employees with group term life insurance and pays 100% of the premiums for their coverage. The premiums the company pays for Gloria's coverage are a non-cash taxable benefit of $24.00 per pay. Gloria is a member of the company's Registered Pension Plan and contributes of her salary to the plan every pay. She also pays $23.00 in union dues each pay. Her federal TD1 claim code is 3. Determine Gloria's federal income tax deduction per pay period. Your answer:
- Dolores has worked for Georgian Motors in Edmonton, Alberta since 2012. She earns $26.66 per hour, works 75 hours per pay period and is paid on a bi-weekly basis. The company provides its employees with group term life insurance and pays 100% of the premiums for its employees’ coverage. The premiums the company pays for Dolores’s coverage are a non-cash taxable benefit of $16.00 per pay. Dolores participates in the company’s Registered Retirement Savings Plan and contributes 4% of her earnings to the plan every pay. She also pays $23.00 in union dues each pay. Her federal and provincial TD1 claim codes are 3. Determine the employee’s total income tax deduction for this pay period.France works fora company located in Pierrefonds, Québec. She earns an annual salary of $46,750.00 and is paid on a bi weekly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for France's coverage are a non-cash taxable benefit of $24.00 per pay. France participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $25.00 in union dues each pay. Her Québec deduction code is C. Determine France's provincial income tax deduction per pay period. Your answerMary works for Liberty Productions in Alberta and earns an annual salary of $53,650.00 paid on a semi-monthly basis. She receives a $80.00 car allowance each pay. The company pays 100 % of group term life insurance premiums for its employees as a non-cash taxable benefit which for Mary's is $24.00 per pay period. Mary is a member of the company's registered pension plan and contributes 3% of her salary to the plan every pay. Her federal and Alberta TD1 claim codes are 3. Determine Mary's total income tax deduction per pay period. Your answer:
- Martina works for a company in Edmonton, Alberta. She earns $30.84 per hour, works 40 hours per pay period and is paid on a weekly basis. The company pays 100% of group term life insurance premiums for its employees as a non-cash taxable benefit which for Martina is $27.00 per pay period. Every pay period Martina also contributes 2% of her salary to the company's Registered Retirement Saving Plan and pays $20.00 in union dues. Her federal and provincial TD1 claim codes are 1. Determine Martina's total income tax deduction per pay period. Your answer:Diane works for Fashion Services in Alberta and earns an annual salary of $62,750.00 paid on a weekly basis. She receives a $85.00 car allowance each pay. The company pays 100% of group term life insurance premiums for its employees as a non-cash taxable benefit which for Diane's is $25.00 per pay period. Diane is a member of the company's registered pension plan and contributes 3% of her salary to the plan every pay. Her federal and Alberta TD1 claim codes are 3. Determine Diane's total income tax deduction per pay period. Your answer:France works for a company located in Pierrefonds, Québec. She earns an annual salary of S54,905.00 and is paid on a monthly basis, Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for France's coverage are a non cash taxable benefit of $32.00 per pay. France participates in the company's group Registered Retirement Savings Plan and contributes 3% of her salary to the plan every pay. She also pays $37.00 in union dues each pay. Her Québec deduction code is B. Determine France's provincial income tax deduction per pay period. Your answer:
- Helen Chapel works for Adams Photography in Alberta and earns an annual salary of $53,500.00 paid on a bi-weekly basis. The company's benefit package includes monthly group term life insurance coverage of two time's annual salary; the group term life insurance premium rate is $0.74 per $1,000.00 of coverage. Helen receives a taxable car allowance of $25.00 every pay for using her own car to go to client appointments. Her federal and provincial TD1 claim codes are 3. Helen will not reach the Canada Pension Plan or Employment Insurance annual maximums this pay period. Calculate Helen's net pay.Melanie works for a large manufacturing company in Ontario. She earns an annual salary of $48,500.00 which is paid on a weekly basis. In addition to her regular pay, Melanie's group life insurance taxable benefit is $25.00 per pay. Melanie receives a car allowance of $200.00 per pay and Melanie contributes 5% of her base salary to her RRSP. Calculate her gross pensionable earnings (GPE) this pay. Calculate her gross insurable earnings (GIE) this pay. A Calculate her Net Taxable Income this pay. Calculate her Federal Income Tax Deduction this pay. She is claim code 1.Laura is 17 years old. She works for Gibson Catering in Alberta and earns an annual salary of $53, 650.00 paid on a weekly basis. She receives a $85.00 car allowance each pay. The company pays 100% of group term life insurance premiums for its employees as a non- cash taxable benefit which for Laura's is $29.00 per pay period. Laura is a member of the company's registered pension plan and contributes 4% of her salary to the plan every pay. Her federal and Alberta TDI claim codes are 1. Determine Laura's total income tax deduction per pay period.