During 2016, Greg Cruz (1401 Orangedale Road, Troy, MI 48084) works for Maple Corporation and Gray Company He earns $80,000 at Maple Corporation, where he is a full time employee Greg also works part time for Gray Company for wages of $45,000 a Did Greg experience an over with holding of FICA taxes...

a Hoffman Young Raabe Maloney Nellen CPAs 5191 Natorp Boulevard Mason OH 45040 January 16 2017 Mr Greg Cruz 1401 Orangedale Road Troy MI 48084 Dear Mr ...

During 2016, Greg Cruz (1401 Orangedale Road, Troy, MI 48084) works for Maple Corporation and Gray Company.

Question:

During 2016, Greg Cruz (1401 Orangedale Road, Troy, MI 48084) works for Maple and Gray Company. He earns $80,000 at Maple where he is a full-time employee. Greg also works part-time for Gray Company for wages of $45,000.
a. Did Greg experience an over with holding of FICA taxes? Write a letter to Greg and a memo for the tax files in which you explain your conclusion.
b. Did Maple and Gray Company overpay the employer's portion of FICA? Explain.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...