Question 6: FUTA tax is paid solely by the employer.Answer:A.TrueВ.False Question 7: Which of the following is accurate regarding self-employment tax?Answer:А.The taxable wage base (threshold) is the same as that for Social Security tax.В.O If an individual receives compensation from a business, he/she is not required to pay self-employment tax on net self-employment income.C.Self-employment tax is designed such that the self-employed individual pays the equivalent of only the employee portion of FICA taxes.D.O Self-employment tax must be paid by all self-employed individuals, regardless of income level.

Answer -6 Futa tax is a payroll tax that is solely paid by the employer . In other words, it is…

Answered: Question 6: FUTA tax is paid solely by…

Business

Accounting

Question 6: FUTA tax is paid solely by the employer. Answer: A. True В. False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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.
A2
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TRUE OR FALSE The fringe benefits tax assumed by the employer is a deductible expense of the recipient managerial employee
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QUESTION 23 U.S. form 1040 or 1040EZ is the form for an individual tax return. True False
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.
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Question 8: Collectively, Social Security tax and Medicare tax are referred to as FICA taxes. Answer: A. O True В. O False
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