How to calculate oasdi and HI taxes for 168,000 a year by Nov 15th and Dec 15th

Q: prises withno ployees. from the wages paid each employee. Enter all amounts as positive numbers. If…

A: Tax liability refers to the obligation of a taxpayer towards the government. This obligation…

Q: Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to…

A: Tax liability refers to the obligation of a taxpayer towards the government. This obligation…

Q: What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug…

A: Given that  Starting date of loan = 12th Feb  When counting a time period, both the start date and…

Q: Find the percentage method income on Darcie Love's weekly gross earnings of $2,920. She has no…

A: = Wage Expenses - ( One time Allowances × total no. allowances claimed by form W-4)=$2920 -( $77.90…

Q: Assuming a FICA tax rate of 7.65% on the first $142800 in wages, 1.45% on amounts in excess of…

A: Lets understand the basics. Gross pay is a pay which is actually earned by the employees. It is…

Q: The following sales and purchases are expected over the Five-month period from November 2019 to…

A: Cash budget of the business shows expected cash receipts and cash payments for the future period of…

Q: Each year, there is a maximum for the amount

A: A tax is an obligatory financial charge or levy that the government imposes on people, companies, or…

Q: What is the due date of a 90-day, 15% note for 100.000 TL issued on July 17, 2019? a. Oct 14 O b.…

A: The due date of note is the date on which the note shall be repaid. Due Date of Note = Issue Date +…

Q: As we go to press, the federal income tax rates for 2021 are being determined by budget talks in…

A: (1) Since, it is given that federal income tax rates for 2021 are not available for publication. (2)…

Q: Oakdale Fashions, Inc. had $245.000 in 2018 taxable income. Using the tax schedule in Table 2.3 to…

A: Income slab Tax amount Tax till $100,000 $22,250 $100,001 - $245,000 $145,000 x 39% = $56,550…

Q: Calculate the Health and Post-Secondary Education Tax

A: Payroll tax, at a rate of 2%, is payable by employers whose annual remuneration in this province…

Q: Current Liabilities Bon Nebo Co. sold 14,000 annual subscriptions of Bjorn for $46 during December…

A: Liabilities: A liability is a legal obligation to pay other entities as a result of past…

Q: if you have a percentage tax due of 70,000, is this monthly or quartelry paid to BIR

A: Given in the question: Percentage tax due is 70,000 Taxes have to be paid to the department of tax…

Q: Richard eami $42,250 perycao. what i8 hi8 annual Income tax-2

A: Income tax is the tax that is paid by the individuals and the businesses to the government on the…

Q: press, ition, the 2023 federal income tax tables for Manual Systems with Forms W-4 From 2 have been…

A: The payroll taxes are the taxes that are levied on the salary, wages, and remuneration of the…

Q: О с. April 9 O d. April 12

A: Maturity date of notes payable is the date on which the money is due to be paid.

Q: date                   Face                    Rate%        Term aug. 8.              45000.…

A: Income statement is an important lifeline of accounting as it defines a companies financial position…

Q: S11-1 Determining current versus long-term liabilities Rios Raft Company had the following…

A: Current liability = The liabilities which need to be paid within one year are current liabilities…

Q: Question 1 The following trial balance has been extracted from the ledger of Azwin, a sole trader as…

A: Income Statement:  It is a part of financial statement of a company in which revenue and expenses…

Q: Compute the pretax profit (income before income taxes) if the net income is $140,000 and the income…

A: Net income = $140,000 Income tax rate = 0.30 or 30% Pretax profit = ?   Pretax profit is the profit…

Q: A VAT Taxpayer had the following data on sales and purchases of a month, value-added tax not…

A: VAT refundable states that the taxpayer has paid in excess amount of money during the tax period as…

Q: Complete the following chart with Revenu Québec remittance due date using the current year calendar.…

A: | PAY DATE | REMITTER | REMITTANCE TYPE | PAY PERIOD ENDING DATE | DUE DATE |…

Q: Vat Payable in January is? * Given the following date during the 1st quarter of 2022: Output Tax…

A: Vat payable is the amount of output tax collected payable to the taxation authority after setting…

Q: Using the Exam Tax Rate chart that is posted in the Assignment for the week of 2/19 tab, what would…

A: Find the tax bracketFind the marginal tax rateThe marginal tax rate is 22%Calculate the amount of…

Q: You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31, at…

A: The amount of money that we deposit in banks earn interest. Usually the banks pay interest at a flat…

Q: Your weekly gross pay is $800 and your weekly total deductions are $150. Find the weekly NFT dav.

A: It's important for employers to stay up-to-date with payroll regulations and laws to avoid penalties…

Q: 2. During 2020, Yigritte receives the following interest payments: $700 from Home Depot bond, $440…

A: Answer State of California bond and Guam bond are exempt so interest received shall not be consider…

Q: On November 1, 2021, Ayayai Corp, which uses a calendar year as its fiscal year, signs a $28200, 8%,…

A: Journal entry is the act of keeping records of transactions in an accounting journal. An accounting…

Q: all principal and interest payments have been made. Problem 6-7 (AICPA Adapted) beginning January 1,…

A: Company issued note at 12% for 12 month so interest rate for 1 month = 12%/12 = 1%

Q: Statement Date 03/1/2019 Previous Balance 154.32 Previous Payment 154.32 New Balance $145.79…

A: The data is given for current month with annual percentage rate. The interest shall be charged on…

Q: How much of the P84,000 advanced rental payment will expire or will be expensed at the end of each…

A: If any expenditure is paid in advance, it will be treated as pre-paid expense and reporting it as an…

Q: Cormier's Books has the following data in its federal Income Tax payable General Ledger account:…

A: Solution: The entry posted in income tax payable on feb 28 is credit of $3,468.22 with post…

Q: A year end data of Snikers Corp. is given here for T4A reporting purpose. You are responsible to…

A: T4A is used to report all other incomes which arare not reported on other slips earned in the…

Q: How much business tax payable for the third quarter return if: i. it only been able to have its VAT…

A: Value-added tax (VAT) is a multi-stage tax charged on the incremental value added to a product or…

Q: he company we work for wi ceiving payments from cust uring this year in dollar, as p ble below…

A: The payments are received from the company and some time they are lesser and sometime they are more…

Q: VAT payable in February is

A: VAT Payable: The outgoing VAT must be paid to the tax authorities each time, that is the reason why…

Q: Other accrued liabilities—real estate taxes  Glennelle’s Boutique Inc. operates in a city in which…

A: The real estate tax bills for 2019 are received only in May 2020. However, the firm has already…

Q: Find the simple interest for the following: A promissory note for $8500 at 7.3% made onSeptember…

A: Formula: Simple Interest amount = Loan taken amount x Interest rate x Time period.

Q: Calculate the property tax payment for $3578 annual taxes, paid quarterly.

A: The property tax is the tax imposed on real estate by the government. The property tax is paid for…

Q: Erindale Automotive borrowed $8,800 from the Bank of Montreal on a demand note on May 10. Interest…

A: Here asked for multi sub part question we will solve for first three sub part question for you.  If…

Q: 34. PENALTY ON UNPAID INCOME TAX On January 5, Helen Terry made an income tax pay- ment that was due…

A: Total delays in days=112 (September 15 to January 15)Interest rate=11%Unpaid amount=$2100

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.