Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Daugbeault Designs has the following amount listed on their form 941 (assume no section 1 to 5 health insurance and that none of the employees

Daugbeault Designs has the following amount listed on their form 941 (assume no section 1 to 5 health insurance and that none of the employees have exceeded the social security wage base.):
image text in transcribed
Daigneault Designs has the following amounts listed on their Form 941 (Assume no Section 125 health insurance and that none of the employees had exceeded the Social Security wage base.): 2 3 82,248.00 7,165.00 Check and go to line 6. 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation 4 if no wagos, tips, and other compensation are subject to social security or Medicare tax Column 1 Column 2 5a Taxable social security wages 82,248.00 * 0.124 5b Taxable social security tips * 0.124 5c Taxable Medicare wages & tips 82.248.00 X 0.029 5d Taxable wages & tips subjoct to Additional Medicare Tax * 0.009 withholding 5e Add column 2 from lines 5a, sb, sc, and 5d 51 Section 3121(9) Notice and Demand - Tax due on unreported tips (see uctions) 6 Total taxes before adjustments Add lines 3, 5e, and 51 50 51 6 Assuming that Daigneault Designs has no tipped employees, what amount belongs on line 6? $12.583.94 $19,748.94 $101,996.94 $25,167.89

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

1. Describe the power of nonverbal communication

Answered: 1 week ago