Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PSa 6-8 Complete Form W-3 Complete the W-3 Form for Belt Buckle Industries (employer identification #88-8888888). The company (located at 435 Georgia Lane, Clifton, NJ

PSa 6-8 Complete Form W-3 Complete the W-3 Form for Belt Buckle Industries (employer identification #88-8888888). The company (located at 435 Georgia Lane, Clifton, NJ 07011) does not use control numbers. Total employee compensation (gross pay) for the year was $527,000, and annual retirement plan contributions totaled $15,200. Federal income tax withholding totaled $73,100 for the year, Of the company’s four employees, only one had earnings subject to Social Security tax that did not exceed $128,400 (this employee earned $18,200). New Jersey state earnings subject to income tax withholding were the same as that subject to federal income tax withholding. State income tax withholding totaled $53,000, with no local taxes withheld. The employer’s New Jersey State ID number is the same as its federal identification number. The form is signed by the CEO of the company, Paul Goldstein (telephone #862-555-0052), and is submitted on the due date for e-filing. The company files Form 941 during the year, and selects “none apply” in the Kind of Employer section.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To complete Form W3 for Belt Buckle Industries we will need to follow the instructions and fill in the relevant sections based on the provided data He... 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

Sound Investing, Chapter 5 - Cost Allocation

Authors: Kate Mooney

8th Edition

007171927X, 9780071719278

More Books

Students also viewed these Accounting questions

Question

Explain how to control impulses.

Answered: 1 week ago