Needing assistance with calculating payroll for July 25th. On July 1 the company offered the secretary/receptionist...
Needing assistance with calculating payroll for July 25th.
On July 1 the company offered the secretary/receptionist the opportunity to become an employee instead of being an independent contractor. The secretary/receptionist agreed. The payroll period will be bi-monthly.
On July 10 the company paid the final independent contractor payment to the secretary/receptionist.
On July 25 the company paid the secretary. Her deductions are the same for each payroll. Her deductions include OASDI, HI and FIT of $105. The company FUTA rate is 0.8% (and the secretary has met the wage base for FUTA). The company SUTA rate is 3.7% on the first $8,000 of wages per employee.
Homework Answers
Ans. On July 1 the company offered the secretary/receptionist the opportunity to become an employee instead of being an independent contractor. The secretary/receptionist agreed. The payroll period will be bi-monthly.
On July 10 the company paid the final independent contractor payment to the secretary/receptionist.
On July 25 the company paid the secretary. Her deductions are the same for each payroll. Her deductions include OASDI, HI and FIT of $105. The company FUTA rate is 0.8% (and the secretary has met the wage base for FUTA). The company SUTA rate is 3.7% on the first $8,000 of wages per employee.
The employer shall deduct OASDI, HI and FIT of $105 along with the FUTA @0.8% from gross pay.
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Needing assistance with calculating payroll for July 25th.
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