Feraz Dalia is due $12,523.00 legislated wages in lieu of notice that will be added to his last weekly pay of $1,080.00. Calculate Feraz's Employment Insurance premium, if his employer was situated in Saskatchewan and the yearly maximum contribution will not be exceeded. Your answer:

Feraz Dalia is due $12,523.00 legislated wages in lieu of notice that will be added to his last weekly pay of $1,080.00. Calculate Feraz's Employment Insurance premium, if his employer was situated in Saskatchewan and the yearly maximum contribution will not be exceeded. Your answer:

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

See similar textbooks

Related questions

Q: Mr. Mani started his new job in Burlington, Ontario on 1st January 2021 with Mandy's Inc. and gets…

A: Mr. Mani's Annual salary package = $78000 Total employee withholdings taxes and employer's…

Q: Assume the year is 2021. Harold’s father, John, requires assistance at home 4 hours each day, 5 days…

A: Tax refers to the obligation or financial charge which is compulsory for the taxpayer or individual…

Q: beginning of the year. If Gordon leaves the employer mid-year, what happens to the $500 employer…

A: Employer contributions to an employee's HSA under an HSA/HDHP (Health Savings Account/High…

Q: Rico Samuel's employer receives a creditor garnishment order to withhold $80 from Samuel's paycheck…

A: Disposable EarningsThe income remains after adjusting the applicable deductions under the federal…

Q: and Kathy Gump are married with one 20-year-old dependent child. Ralph expects to earn $98,000 (paid…

A: Deduction - An item that can be deducted from taxable income to lower the balance due is known as a…

Q: Dalyce Bonham, an employee in Alberta, earns $1630.00 bi-weekly, receives a noncash taxable benefit…

A: Net Pay is the salary earned by an employee after every tax is paid and every deduction is claimed…

Q: oseph works for Northwest Gaskets in Alberta. He earns $33,800.00 per year and is paid biweekly. His…

A: Income tax is based on income. Suppose a person has salary income, capital gain income, house rent…

Q: Carla earns 137,100 from January through November 2020, before resigning to work for a new employer…

A: Rules: 1. 6.2% Social Security tax, withheld from the first $137,700 an employee makes in 2020 2.…

Q: code is 1 and Provincial claim code is 1. How much is the total Employee withholdings taxes (CPP, El…

A: The withholding tax can be defined as the portion of income to be paid directly to the government…

Q: Carina received a bonus payment from her employer for $500.00 on a separate cheque from her regular…

A: Canada pension plan contribution or CPP is a mandatory deduction on bonus amount except when the…

Q: Calculate the insurable earnings.

A: Answer:

Q: Mr. A, a minimum wage earner sales agent, received the following from his employer for the year…

A: As per the provisions of BIR as well as amendment by TRAINs Law , 13th…

Q: Beth Campbell works for ZoneXX Inc. in York, Ontario. Beth is going to receive a $6,000.00…

A: Contribution towards the Canadian Pension plan is equal to the contribution rate of the year…

Q: Christine works for Marian Transport in Québec and is paid $920.25 weekly. Her employer provides…

A: Christine's Net pay: $1000.44

Q: You are required to manually calculate the wages for Aaron for the week ending 22 July 2022 based on…

A: It is the amount of gross earnings of an employee reduced by the income tax to be withheld on the…

Q: Mr. Albert lives in a company flat accommodation which is not job related. The cost of the…

A: The correct option is A. 4,000

Q: B is a newly hired employee (November 2021) and has a monthly compensation package of a basic pay…

A: The current SSS contribution rate is 13% of the monthly salary credit not exceeding P25,000 and this…

Q: Ay 2 XYZ Ltd, a British Columbia employer, awards Theresa Ray a $1,950.00 bonus that will be paid…

A: A bonus is a form of extra compensation or reward given to an employee or group of employees in…

Q: Joanne Keating, who is paid S2,200.00 bi-weekly, also receives the following in addition to her…

A: Insurance offers a security from any kind of miss happening in future by offering a claim offered to…

Q: Fred Balm has agreed to work for the Cadenford Foundation at a total annual salary of $58,000. He is…

A: Deductions are described as those amounts which the taxpayer can reduce from the gross income. These…

Q: For each independent situation, determine the amount, if any that is includible in the gross income…

A: Gross income of employee: It is the amount of wages and salary earned before any taxes and…

Q: Debbie earns an annual salary of $80,000 per year. Paid Biweekly. She contributes 2% of her biweekly…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Elodie is paid her commissions together with her bi-weekly salary of $1,000.00. This pay period her…

A: Calculation of contributionsIn 2022, the contribution rate is 12.3% of an employee's gross earnings.…

Q: oseph works for Northwest Gaskets in Alberta. He earns $33,800.00 per year and is paid biweekly. His…

A: Income tax is based on income. Suppose a person has salary income, capital gain income, house rent…

Q: Fred Blake has agreed to work for the Cummings Foundation at a total annual salary of $ 55,000. He…

A: All employers deduct Canada Pension Plan and Employment Insurance premiums as required by law. The…

Q: Helen works for Jefferson Movers in Alberta and earns an annual salary of $42, 570.00 paid on a…

A: Every organization has many employees working for a single purpose of the company. The company…

Q: Beam Hines is a translator who works for a consulting firm in Mississauga. Her 2020 salary is…

A: Minimum employment income can be computed by making certain deductions from gross income.

Q: Helen works for Jefferson Movers in Alberta and earns an annual salary of $44,742.00 paid on a…

A: Solution:-Payroll calculation is a crucial aspect of a company's day-to-day activities. It includes…

Q: Carol was an employee during 2019 with the following income and benefits received from her employer:…

A: Particulars Amount Salaries $60,000 Add: Bonus accrued $5,500 Carol’s…

Q: Ann hires a nanny to watch her two children while she works at a local hospital. She pays the…

A: Medicare tax & Social security tax comes under federal insurance contribution act. These are…

Q: Ralph and Kathy Gump are married with one 20-year-old dependent child. Ralph expects to earn $98,000…

A: The gross income less some deductions is called the adjusted gross income (AGI). The Internal…

Q: Michael received the following income and fringe benefits in 2022: • Form W-2 wages: $40,500 •…

A: The objective of the question is to calculate the total income that Michael needs to report on his…

Q: Mary Matthews made $950 during a biweekly pay period only social security (fully taxable) and…

A: Given, M’s is married and her biweekly gross pay = $950 Number of allowance = 2 Calculation of…

Q: In 2021, Mr. Crisanto Reyes, a Minimum Wage Earner, received the following from his employer:…

A: Republic Act No. 9504 states that Minumum wage earner are exempted from income tax

Q: Doris MacNeil works for Modem Furniture in Alberta and receives the following remuneration on her…

A: Answer:- Taxable income meaning:- Any gross income produced that is factored into the calculation of…

Q: George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42, 640. He…

A: (C) Following are the calculation of weekly take-home pay with retirement contribution deduction:

Q: Steve Grayson, is self-employed age 43. He has established a SEP-IRA for himself several years ago.…

A: SEP-IRA is a retirement plan where any person can open his account and save money. There is a…

Q: Helen works for Jefferson Movers in Alberta and earns an annual salary of $49,086.00 paid on a…

A: Using the given data, Helen's net pay is calculated as below Particulars Amount Gross Annual…

Question

Feraz Dalia is due $12,523.00 legislated wages in lieu of notice that will be added to his last weekly pay of $1,080.00. Calculate Feraz's Employment
Insurance premium, if his employer was situated in Saskatchewan and the yearly maximum contribution will not be exceeded.
Your answer:

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Federal Insurance Contributions Act (FICA)

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Ay 2 XYZ Ltd, a British Columbia employer, awards Theresa Ray a $1,950.00 bonus that will be paid out together with her semi-monthly salary of $2,200.00. Terry will not reach the annual CPP maximum contribution with this payment. What is Theresa’s CPP contribution? (Make sure you round to the nearest cent). Hint: The amount of Terry’s gross pensionable/taxable income is required to manually calculate her CPP contributions. Since the bonus is included with regular pay, calculate CPP as you normally would.
Joanne Keating, who is paid S2,200.00 bi-weekly, also receives the following in addition to her regular salary each pay: a group term life insurance non-cash taxable benefit of $6.50 and a taxable cash car allowance of $250.00. Calculate both Joanne's and her employer's Québec Parental Insurance Plan premiums assuming she has not reached the annual maximum.
Carina received a bonus payment from her employer for $500.00 on a separate cheque from her regular semi-monthly salary. What is Carina Canada Pension Plan contribution on the bonus?
sharad
Fred Balm has agreed to work for the Cadenford Foundation at a total annual salary of $58,000. He is uncertain whether he should be paid bi-weekly or semi-monthly and has asked for your assistance. Calculate the typical deductions for CPP and El that must be taken from Fred's salary under either alternative. Will the choice affect the total El or CPP Fred pays during the year? Complete the table below. (Round your answers to the nearest cent.) Bi-weekly CPP = El = Semi-Monthly. CPP = El = Will the choice affect the total El or CPP Fred pays during the year? (Select the correct choice and, if necessary, fill in the answer boxes within your choice.) O A. No. The amount Fred pays is not affected because the total bi-weekly deductions per pay period multiplied by pay periods is approximately equal to the total semi-monthly deductions per pay period multiplied by pay periods. O B. Yes. The amount Fred pays is not affected because the total bi-weekly deductions per pay period multiplied by…
Carla earns 137,100 from January through November 2020, before resigning to work for a new employer who pays her 3,000 for December 2020. How much FICA would be withheld on the 3,000? a. 229.50 b. 68.30 c. 169.50 d. 186.00
Beth Campbell works for ZoneXX Inc. in York, Ontario. Beth is going to receive a $6,000.00 performance bonus on her next pay for meeting her previous year objectives. The bonus is the first Becca has received this year and will be paid on a separate cheque. Becca claims code 1 on her federal and provincial TD1s. Her regular bi-weekly salary is $1,650.00 and she has a group term life insurance non-cash taxable benefit of $12.50 per pay. She will not reach the annual maximums for CPP contributions or El premiums with this payment. Use this information to answer questions 3-7. Calculate Becca's CPP contribution. Answer: 876.70
For each independent situation, determine the amount, if any that is includible in the gross income of the employee. The employee of a motel has the choice of free lodging on the premises (fair market value $400 per week) or extra cash compensation. He is not required to live on premises. He chooses the lodging. An employee arranges to have his annual bonus, $1,000, paid directly to his son. His objective is to make a wedding gift to the son. An employee earns a salary of $500 per week. Pursuant to a court order, $100 of his salary goes to his ex-wife for child support.
Mr. Mani started his new job in Burlington, Ontario on 15t January 2021 with Mandy's Inc. and gets his payment weekly. His annual salary package is $78,000. Each week his gross salary is $1500.00. His Federal claim code is 1 and Provincial claim code is 1. How much is the total Employee withholdings taxes (CPP, El & Income Tax) and employer's contribution (CPP & EI) for 2021 that will be submitted to CRA by Mandy's Inc. (Assume that Mr. Mani is the only employee of Mandy's Inc. for calendar year 2021) A.$24171.80 B.$23815.98 C.$27851.26 D.$25796.00
Doris MacNeil works for Modem Furniture in Alberta and receives the following remuneration on her pay: Bi-weekly salary $1,364.85 Overtime 342.96 4% vacation pay on overtime 13.72 Group term life insurance non-cash taxable benefit 15.75 Taxable car allowance 75.00 What is Doris’ gross pensionable/taxable income for this pay? Show your calculations
Helen works for Jefferson Movers in Alberta and earns an annual salary of $42, 570.00 paid on a weekly basis. She contributes 2% of her gross earnings to a Registered Retirement Savings Plan each pay. Helen pays $30.00 weekly for union dues and receives a group term life insurance non-cash taxable benefit of $21.00 each pay. Her federal and provincial TD1 claim codes are 1 and she will not reach the annual maximums for Canada Pension Plan or Employment Insurance with this payment. Calculate Helen's net pay, following the steps in the payroll calculation template.
Mr. Albert lives in a company flat accommodation which is not job related. The cost of the accommodation for the employer was £75,000. The annual value of the flat is £4,000. He also received cash bonus of 2,000 on 6th June 2020. Assuming that the official rate interest was 2.5%. The taxable accommodation benefit to be included in his employment income for the tax year 2019-20 was £ a. 4,000 b. 1,875 c. 4,250 d. 7,875