Quiz 6 Q4

Wich is the right answer I put C and it said it was wrong

Question 6: Form 941 shares the same due date as Answer: А. Form 940 В. FUTA payments С. Form W-2 D. SUTA payments

Where would Social security wages, social security tax withheld and state wages from form W-2 go on 1040? 3 Social security wages 4 Social security tax withheld 50,000 3,100 f Employee's address and ZIP code 15 State Employer's state ID number 16 State wages, tips, etc. NC 22-2222222 75,000

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1 0 ints Exempt Benefit Information Federal FICA Health Insurance Yes Yes Life Insurance Yes Yes Long-term Care Yes Yes FSA Yes Yes 401(k) Yes No Gym No No Owner's name Address Phone Return to question Number of employees Gross quarterly wages (exclusive of fringe benefits) Federal income tax withheld 401(k) contributions Section 125 withheld Gym Membership (add to all taxable wages, not included above) Month 1 Deposit Toni Prevosti 820 Westminster Road, Bridgewater, VT 05520. 802-555-3456 8 $ 38,720.96 $ 469.00 $ 1,514.27 $ 4,080.00 $ 90.00 $ 0.00 Month 2 Deposit Month 3 Deposit Required: $ 2,691.49 $ 3,091.35 Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454. Note: Instructions on format can be found on certain cells within the forms. Answer is not complete.

how to figure out net pay ?

Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Leave no cells blank - be certain to enter "O" wherever required. Round your answers to the nearest cent.) Cumulative earnings Pay amount this Social Security period Medicare Employee before this pay period this period this period Slater 409,200 %$4 6,800 %24 %24

Question 5: How much Social Security tax would be owed by an employee who has taxable earnings for Social Security tax of $2,000, and who, prior to the current pay period, has earned $142,500 of taxable earnings for Social Security tax? Answer: A. В. O $18.60 С. O $105.40 D. O $124.00

What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax? $1,314.59 $1,547.24 $1,781.33 $2,886.75

Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Leave no cells blank be certain to enter "O" wherever required. Round your answers to the nearest cent.) Cumulative earnings Pay amount this Social Security period Employee Medicare before this pay period this period this period Slater %24 409,200 %$4 6,800 tes raw < Prev 8 of 16 Next ucation

Please match the voluntary deductions listed with the correct definition.

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1. What tax is used by the federal government to provide unemployment compensation to individuals who are out of work? Answer:   A.    FUTA     B.    SUTA     C.    Medicare     D.    Social Security 2. When completing Form 1096, the maximum number of types of Form 1099 that may be selected is _____. Answer:   A.    1     B.    2     C.    3     D.    4 3. What is the FUTA tax rate in a state that has a 1.5% credit reduction? Answer:   A.    1.2%     B.    1.5%     C.    2.1%     D.    2.7%

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Problem 8-66 (LO 8-3) (Algo) Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is $186,000. What are her self-employment tax liability and additional Medicare tax liability for 2022? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. Self-employment tax liability Additional medicare tax liability $ 0

1. What is the total Medicare tax rate for an employee who is subject to both standard Medicare tax and Additional Medicare tax? Answer:   A.    2.35%     B.    2.45%     C.    6.2%     D.    7.65%   2. Prior to the current period, Jamie Pratt, whose tax return filing status is single, had earnings subject to Medicare tax of $248,000. This week, Jamie has gross earnings of $3,700. His employer will withhold $_______ in total Medicare tax.   3. What type of institution might offer a 403(b) plan to its employees? Answer:   A.    A small business     B.    Private colleges     C.    Fortune 500 companies     D.    Public education institutions and certain tax-exempt organizations     E.    All of these options

of 4 17:35 ok Required information [The following information applies to the questions displayed below.] Smithers is a self-employed individual who earns $29,000 per year in self-employment income. Smithers pays $1,950 in annual health insurance premiums (not through an exchange) for his own medical care. In each of the following situations, determine the amount of the deductible health insurance premium for Smithers before any AGI deduction and where the premiums are deductible. d. Smithers is self-employed and is also married. Smithers's spouse, Samantha, is employed full time by SF Power Corporation and is covered by SF's health plan. Smithers elected not to participate in SF's health plan.

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16. If you have an employee no exempt with $64,500 yearly salary, with 1 withholding single and biweekly pay, how much the employer need to deduct in income tax? A. $396.89 B. $410.20 C. $580.30 D. $590.01 L

4.) Based on the W-2, what is the tax rate in the state where Etta works? 5.)What is the total of Etta's required deductions?

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