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Pleas help answer part (b) for each question if possible. Thank you! Olenka Corporation hires 13 individuals on March 12, 2019, all of whom qualify
Pleas help answer part (b) for each question if possible. Thank you!
Olenka Corporation hires 13 individuals on March 12, 2019, all of whom qualify for the work opportunity credit. Nine of these individuals receive wages of $16,500 during 2019, and each individual works more than 400 hours during the year. The remaining four employees worked 100 hours and earned $2,100 during the year. a. Calculate the amount of Olenka's work opportunity tax credit for 2019. $ 21,600 b. If Olenka pays total wages of $312,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? 61,500 X Ambre Corporation hires eight individuals on April 2, 2019, all of whom qualify for the work opportunity tax credit. Five of the individuals receive wages of $8,600 during 2019, and each individual works 510 hours during the year. The other three individuals each work 300 hours, and each receives wages of $3,400 during the year. a. Calculate the amount of Ambre's work opportunity tax credit for 2019. 14,550 $ b. If Ambre pays total wages of $191,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? 14,550 x $Step by Step Solution
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