Z was an employee with the following information from her employment in 2021. Salaries and wages - $57,500 RRSP contribution in the final months of 2021 - $5,500 Membership dues paid by Ms. Z’s employer on her behalf - $500 What is Ms. Z’s net employment income for 2021? ___________
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- Z was an employee with the following information from her employment in 2021.
Salaries and wages - $57,500
RRSP contribution in the final months of 2021 - $5,500
Membership dues paid by Ms. Z’s employer on her behalf - $500
What is Ms. Z’s net employment income for 2021? ___________
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- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.Carol was an employee during 2019 with the following income and benefits received from her employer: Salaries - $60,000 Bonus accrued in 2019 by employer but paid to Carol in 2020 - $5,500 Private health services plan paid by employer - $500 What is Carol’s total employment income that will be reported from her employer in 2019? ______________Mr. 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
- b) Below is the details of payroll for Ms Amirah as at 31st March 2021. Employee's Category Conveyer Belt Operator RM 1,500 Basic rate Marriage status Single Allowance RM 543 Overtime RM 505 Monthly tax deduction 0 For year of assessment 2021 REQUIRED: Express calculation on following: i. ii. iii. Gross pay. Contribution (Employee Provident Fund and SOCSO) Net payKaren Kaled received the following income from her employment in 2021: Gross salaries P400,000 Deductions for: SSS 10,000 PhilHealth 8,000 Pag-Ibig 7,000 Union dues 2,000 Withholding tax 67,400 Loans repayment 50,000 Tardiness and absences 15,000 Net pay: P 240,600 Compute Karen Kaled's taxable compensation income. a. 240,600 b. 290,600 c. 358,000d. 400,000Mr. Li is employed by BDF, Incorporated. Required: a. Compute BDF's 2022 employer payroll tax with respect to Mr. Li assuming that his annual compensation is $60,000. b. Compute BDF's 2022 employer payroll tax with respect to Mr. Li assuming that his annual compensation is $200,000. Complete this question by entering your answers in the tabs below. Required A Required B Compute BDF's 2022 employer payroll tax with respect to Mr. LI assuming that his annual compensation is $200,000. Payroll tax < Required A
- From the following data, calculate the tax payable by Mr. Sohail Aslam for the year ended 30th June, 2019; a) Salary Rs. 195,000/- p.m b) Special Pay Rs. 25,000/- p.m c) Bonus for the year Rs. 585,000/- d) Conveyance allowance Rs. 15,000/- p.m e) Free accommodation provided by the employer. He was entitled to a house allowance of Rs. 420,000/- f) Medical expenses reimbursed by his employer under the contract of employment Rs. 24,600/- R) Zakat paid under Zakat Ordinance during the year Rs. 48,000/- h) Donation to approved charitable institutions under section 61 Rs. 500,000/- ) Legal expenses during the year Rs. 30,000/- Amount paid for approved pension scheme during the year Rs. 190,000/- k) Shares of listed companies Purchased Rs. 1000,000/-Allie started her new job in 2020. She received the following payments or benefits paid on her behalf by her employer. $84,000 in salary. $ 6,000 contribution to employer qualified pension plan for her. $ 9,250 contribution to her employer’s qualified health insurance plan for her. $ 8,400 in bonus for the year (paid in January 2021 for 2020) $7,500 Board of Director’s fee since she is a member of the company BOD. $ 800 for group term life insurance coverage of $50,000 $ 1,400 for a whole life insurance policy with a face value of $100,000 $ 2,200 for disability insurance premiums (no elections made) What is Allie’s gross income for 2020?An employer in Nesconset, NY, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During the current pay period, these employees earn $2,200, $1,950, and $2,800, respectively.FUTA tax = $ What is the FUTA tax? The FUTA rate is for year 2022 The FUTA rate for this problem is 0.9%
- An employee had the following details of compensation income in 2021: Regular compensation income 780,000 Overtime pay 43,000 13th month pay 65,000 De minimis benefits: Medical assistance to employee 22,000 Total of other de minimis beenfits 32,000 Compute the taxable compensation if the employee is a rank and file 842,000 836,000 823,000 780,000Thuy worked as the assistant manager at Burger Crown through August 2018 and received wages of $87,000. Thuy then worked at Up and Down Burger starting in September of 2018 and received wages of $60,000. Calculate the amount of Thuy’s overpayment of Social Security taxes that she should claim on her 2018 Form 1040. $_________________________45. Mr. Gerry, hired as employee on July 1, 2019 received the following compensation for the year: Monthly Basic Salary P 20,000 13th Month pay 20,000 Other benefits 7,000 Salary from previous employer (Jan- May 2019) 180,000 Withholding tax from previous 4,167employer Withholding tax (July-Nov 2019) 6,000 The amount to be refunded to Mr. Gerry is
