CHAPTER & Paying the Payroll, Depositing Payroll Taxes, and my Worksheet Summary of Payroll Register 4 Works TRAVELWITHUS.COM, INC Worksheet Summary of Payroll Register oth Quarter, 2017 Medical Insurance Pay Period Date QASD CES 20 981 ning Total Gross Taxable Earnings Earnings 7842.00 734 200 65.00 TE02 00 34 200 C6900 EEE92 292092 ZEE 00 22290 92 22 210 92 20OROD 10/1 SC 10 Medicare 90646 90646 10014 SE206 50236 58730 60215 46667 10115 10:29 165.00 1 6 500 10S00 545196 19500 1614192 TIL 119600 703 57 119800 CE2011 39 600 17 70368 10:26 e focal IDE087 DEZE OY 0 23 11/12 11/26 199 600 101464 2010 64 1EEL 2 DC053 118390 564 43 12.45000 12 45000 152000 1268300 12 6 83 00 158000 25 13 300 25 13300 10000 TT 12 450 00 12 45000 15 20 00 123 4200 1234 200 149500 247 92 00 24 7 9 200 30 1500 99600 10053 117695 35948 09000 878 357 196 00 371748 39600 17 50 105 12/10 12/24 122 1921 98736 128336 Scomber Total 104597 126 700 513 46 63 72 135 92 72 135 92 29300 5770 87 Oy Total 275 395049 00 218 1 4032 O@A768 3 7 6 37155.00 24 6 9 181 TOT Ram 941 in Figure 8.5 on pages 270-271. The top section of Travel withus.com's fourth carter Form 941 in Figure 8.5 identifies the taxpayer, Travelwithus.com, and lists its address the date that the quarter ended, and its EIN. For Part 1, compare the data found on Form 941 to the Worksheet (Figure 8.4). SUCCESS Part 1: Line 1 asks for the number of employees on one specific date during the quarter. Line 2 requires the total gross pay for the quarter. Line 3 lists the total quarterly Federal Income Tax (FIT) withheld from all employees. Line 5 - Please notice that line 5 is divided into two columns and several sections. Line Sa, column 1 records the total Social Security (FICA-OASDI) wages paid. This total is multiplied by 0.124, and that result is recorded in column 2. Line Sc records the FICA-Medicare tax. Again, the employee portion is 0.0145 (1.45%), but, when matched by the employer, the total is 0.029 (2.9%). Line Se adds all line 5, column 2 amounts. Line 6 adds lines 3, 5e, and Sf. out where the 0.124 comes from Remember that the Social Security came with held from each enployee is 0.062 (6.2). Indition, the employee watches the amount withheld Srom the employee. Therefore 0. 02 0.062 0.124 (12.4%) SUCCESS Part 2 You should now skip to Part 2 (page 2) of the form. Complete and total the monthly tax liabilities found on line 16. The total of Part 2 is rewritten on line 12 of Part 1 (page 1). Line 10 equals Line 12 plus Line 11. Compare lines 6 and 10. The amounts should be Equal or within a few cents. Please add subtract the small adjustment needed for Line Which is the difference between lines 6 and 10. This kind of adjustment is due to founding and happens often. Line 13 records the total of all deposits made for the quarter, and this line should qual line 12 if each monthly liability was deposited as required. talline is not blank CHAPTER & Paying the Payroll, Depositing Payroll Taxes, and my Worksheet Summary of Payroll Register 4 Works TRAVELWITHUS.COM, INC Worksheet Summary of Payroll Register oth Quarter, 2017 Medical Insurance Pay Period Date QASD CES 20 981 ning Total Gross Taxable Earnings Earnings 7842.00 734 200 65.00 TE02 00 34 200 C6900 EEE92 292092 ZEE 00 22290 92 22 210 92 20OROD 10/1 SC 10 Medicare 90646 90646 10014 SE206 50236 58730 60215 46667 10115 10:29 165.00 1 6 500 10S00 545196 19500 1614192 TIL 119600 703 57 119800 CE2011 39 600 17 70368 10:26 e focal IDE087 DEZE OY 0 23 11/12 11/26 199 600 101464 2010 64 1EEL 2 DC053 118390 564 43 12.45000 12 45000 152000 1268300 12 6 83 00 158000 25 13 300 25 13300 10000 TT 12 450 00 12 45000 15 20 00 123 4200 1234 200 149500 247 92 00 24 7 9 200 30 1500 99600 10053 117695 35948 09000 878 357 196 00 371748 39600 17 50 105 12/10 12/24 122 1921 98736 128336 Scomber Total 104597 126 700 513 46 63 72 135 92 72 135 92 29300 5770 87 Oy Total 275 395049 00 218 1 4032 O@A768 3 7 6 37155.00 24 6 9 181 TOT Ram 941 in Figure 8.5 on pages 270-271. The top section of Travel withus.com's fourth carter Form 941 in Figure 8.5 identifies the taxpayer, Travelwithus.com, and lists its address the date that the quarter ended, and its EIN. For Part 1, compare the data found on Form 941 to the Worksheet (Figure 8.4). SUCCESS Part 1: Line 1 asks for the number of employees on one specific date during the quarter. Line 2 requires the total gross pay for the quarter. Line 3 lists the total quarterly Federal Income Tax (FIT) withheld from all employees. Line 5 - Please notice that line 5 is divided into two columns and several sections. Line Sa, column 1 records the total Social Security (FICA-OASDI) wages paid. This total is multiplied by 0.124, and that result is recorded in column 2. Line Sc records the FICA-Medicare tax. Again, the employee portion is 0.0145 (1.45%), but, when matched by the employer, the total is 0.029 (2.9%). Line Se adds all line 5, column 2 amounts. Line 6 adds lines 3, 5e, and Sf. out where the 0.124 comes from Remember that the Social Security came with held from each enployee is 0.062 (6.2). Indition, the employee watches the amount withheld Srom the employee. Therefore 0. 02 0.062 0.124 (12.4%) SUCCESS Part 2 You should now skip to Part 2 (page 2) of the form. Complete and total the monthly tax liabilities found on line 16. The total of Part 2 is rewritten on line 12 of Part 1 (page 1). Line 10 equals Line 12 plus Line 11. Compare lines 6 and 10. The amounts should be Equal or within a few cents. Please add subtract the small adjustment needed for Line Which is the difference between lines 6 and 10. This kind of adjustment is due to founding and happens often. Line 13 records the total of all deposits made for the quarter, and this line should qual line 12 if each monthly liability was deposited as required. talline is not blank
