2. In the table below, fill in each column. In the FICA tax column, circle who pays the tax. In the FUTA tax column, indicate who pays the FUTA: employer, employee or worker If no FUTA tax is due, write "NA" (not applicable). FUTA tax FICA tax Таx гate Type of worker (percentage) Common Law employees Statutory employee Employer Worker/Employee Employer Worker/Employee Employer Worker/Employee Statutory non- employee Independent contractors Employer Worker/Employee Employer Worker/Employee Employer Worker/Employee Temp from agency CPEO-leased omployess 3. Every Aua

2. In the table below, fill in each column. In the FICA tax column, circle who pays the tax. In the FUTA tax column, indicate who pays the FUTA: employer, employee or worker If no FUTA tax is due, write "NA" (not applicable). FUTA tax FICA tax Таx гate Type of worker (percentage) Common Law employees Statutory employee Employer Worker/Employee Employer Worker/Employee Employer Worker/Employee Statutory non- employee Independent contractors Employer Worker/Employee Employer Worker/Employee Employer Worker/Employee Temp from agency CPEO-leased omployess 3. Every Aua

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Dividends paid to a shareholder by a corporation should be reported on which of the following forms? Oa. 1099-R Ob. 1099-INT Oc. 1099-MISC Od. 1099-DIV Oe. None of these choices are correct.
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.
You are self-employed. Your business earns income during the period. You are subject to which of the following taxes? A. Income Tax B. Business Tax C. A and B D. None of these
true or false In most situations, the total Social Security taxes levied on employers will exceed the amount of Social Security taxes withheld from employees.
PSb 5-5 Calculate FUTA and SUTA Tax For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer: NO TE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6,100 and $8,800. During the current pay period, these employees earn $1,450 and $2,000, respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $16,500. FUTA tax = $ SUTA tax = $ 2: An employer in Bridgeport, Connecticut, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,500, $12,900, and $14,200. During the current pay period, these employees earn $2,200, $1,950, and $2,400, respectively. The applicable SUTA tax rate is 4.9%, and the Connecticut SUTA threshold is $15,000.…
I. Define: a. Minimum wage b. E.O. 226 c. BMBE Law d. CDA e. Tax law vs gaap f. Statutes and Presidential Decrees g. Judicial Decision or case laws h. Local Ordinances i. Ad Valorem j. Sin Taxes
To calculate the debit to payroll tax expense in recording the employer's payroll taxes the following would be included: Group of answer choices Social Security Tax, Medicare Tax, State and Federal Unemployment Tax State and Federal Unemployment Taxes Social Security Tax and Medicare Tax
The amount of federal income tax to be withheld from employee's paychecks can be calculated by
Question 13: Which of the following is a true statement regarding the W-2 Form? Answer: А. Employers must submit the W-2 Form regardless of the amount of compensation paid to employees. Sending a copy of the W-2 Form to the employee is optional. C. The control number on the W-2 Form must be completed by the employer. D. The W-2 Form includes both federal and state tax information. B.
FICA, a tax that every employer must pay has two parts. What are they? List them:
Which of the following items is exempt from including into the assessable income for salaries tax purposes? Select one: a. Leave pay b. Commission c. Compensation for termination of employment not provided in the contract d. End of contract gratuities
Explain the tax treatment of provision of accommodation or housing benefit to an employee