Employee Chris worked 2,000 hours in Green Company in 2021 as members of qualifying targeted groups, was paid $20,000 in wages and is a member of the “regular” WOTC category. What company's WOTC?
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Employee Chris worked 2,000 hours in Green Company in 2021 as members of qualifying targeted groups, was paid $20,000 in wages and is a member of the “regular” WOTC category. What company's WOTC?
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- > Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates's payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions-payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. meniups/l Tan considers this suggestion, and she lists the following items relating to out- sourcing payroll accounting: a. The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. b. uck Associates's bookkeeper would spend half her time preparing the weekly payroll input form that…Give typing answer with explanation and conclusion! Required information [The following information applies to the questions displayed below.] Greer Utsey earned $48,400 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Required: Compute the employer's share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. S S Federal income tax withholding Social Security tax Medicare tax FUTA tax SUTA tax State income tax withholding 60 S S GA 60 $ SA 930.77 57.68 X 13.49 5.58 50.22 X 187.52 X
- Your friend started their own company a few years ago. During covid they experienced a lot ofchallenges, especially with leave pay. He also heard about IAS19 but is not sure what it is about. Heis asking for your advice regarding short-term employee benefits, as well as your assistance basedon the following information relating to the company:At the end of the current financial year being the 30 June 2022, the company has 80 middlemanagers, 20 top managers and 10 partners in the company. As compensation for their services,the following compensation packages are awarded:• Middle managers are compensated with an average salary of R900 000 per annum and havea total of 25 days annual leave.• Top managers are compensated with an average salary of R1 200 000 per annum, with atotal of 22 days leave per annum.• Partners in the company are paid an average salary of R1 800 000 per annum.Per their employment contracts, annual leave may be carried forward for one financial period andis…es ! Required information [The following information applies to the questions displayed below.] Greer Utsey earned $48,400 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Required: Compute the following employee share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answers to 2 decimal places. Federal income tax withholding Social Security tax Medicare tax State income tax withholding $ 13.49Mr. X was an employee with the following information from his employment in 2020. Salaries and wages - $27,000 RRSP contribution in 2020 - $5,500 Membership dues paid by Mr. X - $500 Calculate Mr. X's the net employment income for 2020? Question 7 options: a) $21,500 b) $27,500 c) $21,000 d) $27,000
- HelpSection 5-EMPLOYEE DATA: FORM W-4 AND STATE WITHHOLDING 0ALLOWANCE CERTIFICATES How long does a new employee have to submit a completed W-4? How must the employer withhold FIT until the W-4 is received from a new employee? On March 2, 2020, Mischa submits a new W-4. If payday is Friday, what is the date of the first paycheck that must reflect Mischa’s new W-4? On March 23,2020, Paul submits a new W-4. If Paul is paid the last weekday of each month, what is the date of the first paycheck that must reflect Paul’s new W-4? On October 2, 2020, Janet starts a part-time job. She did not owe federal income tax in 2019 and does not expect to earn enough to pay federal income tax for 2020, so she claims exempt from federal income tax withholding on her 2020 Form W-4. Does Janet need to submit a W-4 in 2021? If so, by when—and how does her employer withhold if she does not do this?Edwards Company just hired another employee - Jane. The Edwards Company provides supplemental retirement benefits to its employees realizing the insufficiency of the Social Security benefits for a comfortable retirement life. Edwards has asked you to perform the necessary computations pertaining to the retirement benefits for Jane. Jane's current salary is $40,000. Jane will be entitled to this supplementary retirement benefits after 20 years of work- the start of the 21st year. The retirement plan will last for 25 years. Per company practices. Jane will be granted with a year-end salary increase of 2% per year effective Jan. 1st of each year that she works. The amount of annual retirement benefit is going to be 45% of Jane's salary right before the start of the retirement and will be paid at the start of each year, Any invested funds for pension will earn 4% compounded annually. Click here to use Excel. Compute Jane's annual retirement benefit Example of Answer: 4000.20 Two decimal…
- Question 1: The third-party designee sections in both Form 941 and Form 940 require that the employer select a Answer: А. O username В. O password C. O five-digit PIN D. secret question B.Ff.2.Employees that live in a state where the minimum wage is $7.40, their employer will pay them $fill in the blank f74d610d8fe6025_13 per hour.
