Question
I am doing my one month project chapter 7, about my question are: What are the total taxable FUTA wages for the year? What would
I am doing my one month project chapter 7, about my question are:
What are the total taxable FUTA wages for the year? What would these FUTA taxable wages have been if John Parker earned $100,000 less for the year?
The FUTA wages for the year are ......, If John earned $100000 less for the year, the FUTA Taxable wages would have been....( I dont know the answer...I have my Employee earning records, the payroll register and journal entries. Where is the amount?
For Allison Harrison, by how much do herWages, Tips, and Other Compensationon Form W-2 differ from herMedicare Wages and Tips? What does this amount represent?
Her wages, tips and other compensation on Form total......This amount represents....
Why doesn't the employer sign Form W-2? Does the employer sign any form that conveys annual employee compensation to the IRS? If so, which form?
W-2 is filed electronically and hence the employer will not sign on the W-2. No forms are physically as all of them are digitized and filed electronically to the government and also a copy to the employee. is ok?
For John Parker, by how much do hisSocial Security Wageson Form W-2 differ from hisMedicare Wages and Tips? Why does this difference exist?
What is the standard Medicare tax rate? Why does this rate differ from the ".029" displayed on line 5c of Form 941? Why does this rate differ from the ".009" displayed on line 5d of Form 941?
The standard medicare tax rate is 1.45%. It is 1.45% for each employer and employee. So, the total will be 1.45 + 1.45 = 2.9% or .029 for both as in line 5c of form 941.
5d is tha additional medicare tax withholding if the wages are more the 200,000 for an employee. This 0.9% is only imposed on the employee and not the employer. Hence this rate of .009 (0.9%) differs on line 5d of form 941 is ok?
For the 4th quarter, what portion of the total Medicare tax is paid by the employer (not withheld from Employee earnings)?
For the 4th quarter, the additional Medicare portion of the total Medicare tax is paid by the employer is $1152.13 ok?
Is John Parker's Medicare tax withheld the same for each pay period in December? Why or why not?
John Parker's Medicare tax withheld isn't the same for each pay period in December because the threshold exceed the amount more than 200000. ok?
Does the employer owe the same amount of SUTA tax for each employee? Why or why not? What is the amount of SUTA tax owed for each employee?
The SUTA tax is paid based on a certain prescribed percentage of taxable wages that are paid to employees. So, the SUTA tax is not same for each employee. It is in fact proportional to their salaries. Each state defines their own rates of SUTA Tax. It is generally paid on a certain amount of wages.ok?
Is Additional Medicare Tax withheld from any employee? If so, which employee(s), and why is this tax withheld from them?
The additional Medicare Tax withheld from John Parker is 83.61, this tax is withheld from him because.... (is ok? How to explain this amount?)
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