Use the 2021 FICA tax rates, shown, to answer the following ques If a taxpayer is not self-employed and eams $140,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employer Employee's Rates 7.65% on first $142,800 of 7.65% on first $142,800 paid income in wages 1.45% of income in excess 1.45% of wages paid in of $142,800 excess of $142,800 BIED Self-Employed Rates 15.3% on first $142,800 of net profits 2.9% of net profits in excess of $142,800

1. Who assigns the SUTA tax rate to an employer? Answer:   A.    The Internal Revenue Service     B.    The state in which the employer is located     C.    The Social Security Administration     D.    The American Payroll Association 2. What is the due date for the first quarter FUTA tax? Answer:   A.    April 30     B.    March 30     C.    April 15     D.    None of these options 3. Match each tax with its associated feature. SUTA Self-employment Social Security and Medicare       The employer presently matches the amount employees pay. If net SE income is below $400, no tax is due. The number of laid-off employees may affect it.

All the listed benefits paid by an employer are required to be included in an employee's income for a tax year except one. Which one?   Question 4 options:   a)  Tuition fees for training that relates to employer's work   b)  Medical expenses of an employee   c)  Forgiveness of employee debt   d)  Cost of life insurance

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Determine the self-employment tax for an individual who has $111,700 in wages, $4,000 in interest income, and $20,000 in self-employment income. The self employment tax is________?

Compute for the tax due of the following individuals using the RA 10963 tax table. Show computations. 1. An employee with annual salary of P500,000, annual allowable deductions of P28,000 and bonus of P100,000 for the year.

Darius' net income from self-employment reported on Schedule C is $25,000.  Calculate his self-employment tax. Group of answer choices $1,766 $23,088 $3,825 $3,532

Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent.   EmployeeNo. Employee  Name Marital Status No. of WithholdingAllowances Gross Wageor Salary Amountto BeWithheld 1 Amoroso, A. M 4 $1,610  weekly $fill in the blank 1 2 Finley, R. S 0 825  biweekly fill in the blank 2 3 Gluck, E. S 5 9,630  quarterly fill in the blank 3 4 Quinn, S. M 8 925  semimonthly fill in the blank 4 5 Treave, Y. M 3 2,875  monthly

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How do I calculate self employment taxes. For example Bob Dylan's self employment earnings are $50,600, what would be his 2021 total self-employment taxes?