Which of the following is not deductible from gross income? Salaries and wages of employees Entertainment, amusement and recreation expenses Rental expenses Bribes, kickbacks and other similar payments ANSWER:

Q: Itemized Deductions can be classified as:     a. Expenses that are purely personal in nature or…

A: Deduction can be defined as claims which lower a person or organisation’s liability by lowering…

Q: Question 5 Which of the following would be deducted in determining an employee's net pay? O FUTA…

A: Some taxes are deducted by employer from employee salary and paid to the government and net salary…

Q: can you help me how to Explain how an employer can receive a credit against the FUTA tax due.

A: FUTA stands for Federal Unemployment Tax Act under federal law of US. FUTA tax is paid by the…

Q: Unreimbursed employee expenses are deductible. a. True 6. False

A: Under the Tax Cuts and Jobs Act,the most unreimbursed employee expenses are no longer deductible for…

Q: An independent contractor or self-employed person's employer is not required to deduct taxes, CPP,…

A: Benefits provided by employers when an employee works for a company, then every employer has to…

Q: explain in detail regarding the following topics 1. Adoption Tax Credit   2. Non Business…

A: 1)  An adoption tax credit is a tax credit offered to adoptive parents to encourage adoption in the…

Q: ue or false 2. The amount of income taxes withheld from employee gross pay is an expense to the…

A: The expenses are the costs incurred to earn the revenue for the business and liabilities are the…

Q: Which of the following taxes has a ceiling and is only paid by the employer? Group of answer choices…

A: Income taxes is the amount that is charged by the government on the income earned by an individual…

Q: income recieved but service not rendered, Please suggest the JE

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: FICA taxes are a mandatory deduction from employee earnings, and are also imposed upon employers as…

A: Taxes are mandatory financial charges or levies imposed by a government on individuals, businesses,…

Q: Some payroll taxes are paid by both employees and employers. Others are paid only by employers.…

A: Some payroll taxes are borne by both employer and employee while some are paid only by employees or…

Q: Which of these statements are correct? i. A contract for service is an independent contractor; the…

A: i. A contract for service is an independent contractor; the contractor is responsible for filing…

Q: statements is true? A.Deductions are not allowed unless there is a specific law authorizing the…

A:

Q: The QBI deduction will reduce both the income tax and self-employment taxes owed by a self-employed…

A: Answer:   False.

Q: TRUE OR FALSE The fringe benefits tax assumed by the employer is a deductible expense of the…

A: Fringe benefits include: Employee stock option Interest-free loans Higher education assistance Cab…

Q: The amount of federal income tax to be withheld from employee's paychecks can be calculated by

A: Federal income tax: It is a tax levied by the IRS on the annual income of the taxpayers such as…

Q: Which of the following amounts paid by an employer to an employee is not subject to withholding? Oa.…

A: Given : Multiple options  a) Salary  b) Travel expense reimbursements from an accountable plan c)…

Q: Which of the following items is exempt from including into the assessable income for salaries tax…

A: Correct option is D.  End of contract gratuities     Explanation: