Question
Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15,
Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static)
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2021. For the taxes, assume the second February payroll amounts were duplicated for the March 5 and March 19 payroll periods, and the new benefit elections went into effect as planned. The form was completed and signed on April 9, 2021.
Benefit Information | Exempt | |
---|---|---|
Federal | FICA | |
Health Insurance | Yes | Yes |
Life Insurance | Yes | Yes |
Long-term Care | Yes | Yes |
FSA | Yes | Yes |
401(k) | Yes | No |
Gym | No | No |
Owner's name: Toni Prevosti
Address: 820 Westminster Road, Bridgewater, VT 05520.
Phone: 802-555-3456
Number of employees: 8
Gross quarterly wages (Exclusive of Fringe benefits): $32,086.87
Federal income tax withheld: $360.00
401(k) contributions: $1,259.90
Section 125 withheld: $4,080.00
Gym membership: $90.00
Monthly Deposits | Amount |
---|---|
Month 1 | $ 0.00 |
Month 2 | $ 1,918.18 |
Month 3 | $ 2,726.72 |
Required:
Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454.
-(NOTE): Instructions on format can be found on certain cells within the
I need help completing this 941
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started