3-1 Assignment

Payroll accounting 2020 by Landin Question: What are the forms of identification that establish employment authorization for the I-9? Certified copy of the birth certificate. checkedU.S. Citizen I.D. Card. checkedSchool record. uncheckedU.S. Passport. checked

n n e? Fe ces ati Question 5 of 20. What are some of the features of Expert Help Chat? Choose all that apply. Tax Professionals answer questions from clients regarding specific issues. Tax Professionals can call, chat, or video chat with clients. Tax Professionals can screen share with clients to help navigate the online program. Tax Professionals will sign and file the return for the client. Mark for follow up

Identify in which situation income was constructively received in 2022. Situation A taxpayer received a check on December 31, 2022. Deposited the check to their bank account on January 1, 2023. A taxpayer sold their home on December 20, 2022. Payment was received from the escrow company on January 5, 2023. A taxpayer's employer offers the taxpayer the option to receive their year-end bonus on either December 15, 2022 or January 15, 2023. The taxpayer chooses to defer it to January 15, 2023. A taxpayer who performs consulting services was informed by a client that a check for services they had performed was ready to be picked up on December 15, 2022. However, the taxpayer was on vacation and unable to pick it up until January 3, 2023. Was income constructively received? (Yes/No)

Basic Scenario 8: Zoe Watson Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice. Interview Notes Zoe is single and 47 years old. • Zoe has two children. Yvonne, age 19, has a job and earned wages of $5,200. Joshua, age 26 is totally and permanently disabled and received Social Security benefits of $4,500. Both children lived with her all year. Zoe paid all the cost of keeping up the home and more than half the support for her children. • Zoe received disability pension benefits, but she has not reached the minimum retirement age of her employer's plan. • She does not have enough expenses to itemize for the 2023 tax year. Zoe, Yvonne, and Joshua are U .S. citizens and have valid Social Security numbers. They…

Richard Cook Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINs), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Richard is age 39 and was widowed in 2017. He has a daughter, Isabella, age 5. • Richard provided the entire cost of maintaining the household and over half of the support for Isabella. In order to work, he pays childcare expenses to Busy Bee Daycare. • Richard declined to receive advance child tax credit payments in 2021. • Richard’s earned income in 2019 was $19,000. • Richard and Isabella are U.S. citizens and lived in the United States all year in 2021. • Richard received the third Economic Impact Payment (EIP3) in the amount of $2,800 in 2021. 33. Richard does not qualify to claim a retirement savings contribution…

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11614 DISCUSSION QUESTIONSp ali togib.e 1. Tom Taxpayer meets with his CPA about a potential transaction. At the bns (0 meeting Tom Taxpayer presents the CPA with a private letter ruling that ed lliw is directly on point to his potential transaction. Can Tom Taxpayer rely vlataiba on the private letter ruling if he is later audited with respect to the return ert to bfiled for the year in which he enters the transaction? How would your dhue dianswer change if Tom Taxpayer provided a Revenue Ruling directly on point? nd blaleuw

Question 30: Match each form to its purpose. SS-4 Used to obtain a Social Security number DROP HERE W-4 Provides information to calculate income tax withholding DROP HERE SS-5 Used to obtain an Employer Identification Number DROP HERE 1-9 Verifies employment eligibility DROP HERE Question 12: Which of these is a credit reduction state/territory? Question 15: Union dues are considered a deduction. Answer: Answer: A. O Connecticut A. O cafeteria B. O Ohio B. O insurance C. O Virginia C. O mandatory D. O U.S. Virgin Islands D. O voluntary Question 14: Alejandra owns and operates an appliance store where employees clock in and out for each shift. Per the FLSA, Alejandra rounds employee time worked to the nearest 15-minute increment. On Tuesday this week, Stanley works 4 hours and 9 minutes in the morning and 3 hours and 11 minutes in the afternoon. How does Alejandra record Stanley's time? Answer: A. O 7 hours B. O 7 hours and 15 minutes C. O 7 hours and 20 minutes D. O 7 hours and 30…

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Payroll Accounting 2020 by Landin Question: Ginger Klein is the payroll clerk for Neolane Transportation. A colleague who is classified as an independent contractor requests to be classified as an employee. What factors should Ginger consider?  Relationship of the parties.checked Behavioral control.checked Financial control.checked Method of compensation.

What is an accountant’s duty of care? What is GAAP and GAAS?    Discussion Topic Two:    Do some quick internet research and fine a case that deals with an accountant that has been found to have breached the duty of care. Provide a brief summary of the facts of the case, and provide the court's analysis. Be sure to use a reference

1. Match each form name with its associated description. Form 1099-NEC Form 1096 Form W-9       Request for Taxpayer Identification Number and Certification Nonemployee Compensation Annual Summary and Transmittal of U.S. Information Returns 2. The SUTA taxes for an employee whose year-to-date earnings prior to the current period are $12,400, who earns $1,500 during the current period, who works in a state with a credit reduction of 1.5%, and whose state imposes a SUTA tax rate of 2.5% with an associated wage base of $12,600 would be$______ 3. Which of these states does NOT levy SUTA tax on employees as well as employers? Answer:   A.    New Jersey     B.    Alaska     C.    Pennsylvania     D.    Rhode Island

Question 11: When an employer remits a federal tax payment via a check sent through the United States Postal Service, the check must arrive by the form's due date. Answer: А. True В. O False

Prepare payroll registers. Maintain employees’ earnings records. Journalize and post payroll and payroll tax entries. Complete federal, state, and city tax deposit forms and journalize the transactions. Prepare various quarter-end and year-end payroll tax forms. Make the accrual entries for the payroll at the end of a year.                                                                                                                                J OURNAL Page  41     DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct.9Payroll Cash1212,508.59    Cash1112,508.59   9Administrative Salaries512,307.69 Office Salaries524,723.08 Sales Salaries533,600.00 Plant Wages544,898.00    FICA Taxes Payable - OASDI20.1962.79    FICA Taxes Payable - HI20.2225.18    Employees FIT Payable24740.00    Employees SIT Payable25476.76    Employees SUTA Payable25.110.90    Employees CIT Payable26588.55    Union Dues Payable2816.00    Payroll Cash1212,508.59   9Payroll Taxes561,396.66    FICA Taxes Payable -…