Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume

The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 9 and March 23 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2019. The gym membership is for a dedicated facility for employees and spouses. Benefit Information Exclude: 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: 802-673-2636 Number of employees: 8 Gross quarterly wages: $32,085.15 Federal income tax withheld: $628.00 401(k) contributions: $1,259.90 Insurance withheld: $4,080.00 Gym membership: $90.00 (For the pay-period completed till March 23). Monthly Deposits Amount Month 1 $ 0 Month 2 $ 2,008.18 Month 3 $ 2,904.72 Required: Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22- 6654454.

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

Digital Finance Big Data Start-ups And The Future Of Financial Services

Authors: Perry Beaumont

1st Edition

0367146797, 978-0367146795

More Books

Students also viewed these Finance questions

Question

Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago

Question

What do you think accounts for the fact that turnover is low?

Answered: 1 week ago