Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The first-quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2022. For the taxes, assume the second February payroll
The first-quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2022. For the taxes, assume the second February payroll amounts were duplicated for the March 4 and March 18 payroll periods, and the new benefit elections went into effect as planned. The form was completed and signed on April 11, 2022. Benefit Information Exempt 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 802-555-3456 Number of employees 8 Gross quarterly wages (exclusive of fringe benefits) $ 34,667.98 Federal income tax withheld $ 414.00 401(k) contributions $ 1,356.68 Section 125 withheld $ 4,080.00 Gym Membership (add to all taxable wages, not included above) $ 90.00 Month 1 Deposit $ 0.00 Month 2 Deposit $ 2,013.24 Month 3 Deposit $ 3,094.49 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started