Ralph Henwood was paid a salary of $76,400 during 20-- by Odesto Company. In addition, during...
Ralph Henwood was paid a salary of $76,400 during 20-- by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $67,500 on his income tax return for 20--. Compute the following:
a. The amount of FICA taxes that was withheld from his earnings during 20-- by Odesto Company.
OASDI _________
HI $ __________
b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--.
OASDI ___________
HI $ ____________
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Ralph Henwood was paid a salary of $76,400 during 20-- by Odesto
Company. In addition, during...
Example 3-5 George Talbot receives wages amounting to $106,700. His net earnings from self-employment amount to...
Example 3-5 George Talbot receives wages amounting to $106,700. His net earnings from self-employment amount to $28,600. Talbot must count $26,200 of his earnings in determining taxable self-employment income for OASDI taxes. OASDI Taxable Wage Base Wages Received OASDI Taxable Self-Employment Income $132,900 $106,700 $26,200 Ralph Henwood was paid a salary of $77,800 during 20-- by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $66,000...
OASDI for self employment 74700.00 wages 60,000.00 self employment wage base is 132900. 3-8B.LO 3 See...
OASDI for self employment
74700.00 wages
60,000.00 self employment
wage base is 132900.
3-8B.LO 3 See Example 3-5 on page 3-13 ME HOW 00 during 20 - by Umberger Company. In addition, during the year, Parker ee Parker was paid a salary of $74,700 during 20-- by Umberger Company. In addition as a public accountant and reported a net business income of $60,000 on his income tax started his own business as a public accountant and reported return for 20-...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees Employees' total OASDI.... Employees' total HI.... Employer's total OASDI Employer's total Hl.... 3-8BLO 3 See Example 3-5 on page 3-13 ME...
Example 3-1 During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of...
Example 3-1 During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,600. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $ $ b. 18th paycheck $ $ c. 24th paycheck $ $ d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $182,400, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax...
the oasdi is not 7440. how do i calculate pboard Font PATES AVAILABLE Updates for Office...
the
oasdi is not 7440. how do i calculate
pboard Font PATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some X for C B lame: D E F G H I Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appe o the night of an incorrect answer 3-8B Salary (a) The amount of FICA taxes that was withheld from his earnings paid by Umberger Company $ 74,700...
During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,900. Compute...
During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,900. Compute the amount of FICA taxes that should be withheld from her OASDI HI a. 9th paycheck " जी b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $189,600, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? "
Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is...
Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is taxable under FICA Taxes-HI; $63,850 is taxable under FICA Taxes-OASDI; and $10,300 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,911. The amount withheld for state income taxes is $1,410. a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box...
QUESTION 1 What is the OASDI to be withheld from this employee for the 9th paycheck?...
QUESTION 1 What is the OASDI to be withheld from this employee for the 9th paycheck? QUESTION What is the HI to be withheld from ths employee for the 9th paycheck? QUESTION What is the OASDI to be withheld from this employee for the 22nd paycheck? QUESTION 4 What is the HI to be withheld from this employee for the 22nd paycheck QUESTION 5 What is the OASDI to be withheld from this employee for the 24th paycheck? QUESTION 6...
Brooke, a single taxpayer, works for Company A for all of 2019, earning a salary of...
Brooke, a single taxpayer, works for Company A for all of 2019, earning a salary of $62,000. a. What is her FICA tax obligation for the year? b. Assume Brooke works for Company A for half of 2019, earning $62,000 in salary, and she works for Company B for the second half of 2019, earning $102,000 in salary. What is Brooke's FICA tax obligation for the year? (Round your intermediate calculations to the nearest whole dollar amount.) Kyle, a single...
Thomas is single and a self-employed architect. During 2019, Thomas’s income from his business is $150,000....
Thomas is single and a self-employed architect. During 2019, Thomas’s income from his business is $150,000. He also pays $2,180 for a medical insurance policy. What is his 2019 self-employment tax deduction? Round intermediate calculations and final answers to the nearest whole dollar. Net self-employment income is total income multiplied by 92.35%. Of this amount, 15.3% is the self-employment tax. The deduction is one-half of the amount for the self-employment tax. Also, remember that OASDI is taxed on a maximum...
Example 3-5 George Talbot receives wages amounting to $106,700. His net earnings from self-employment amount to $28,600. Talbot must count $26,200 of his earnings in determining taxable self-employment income for OASDI taxes. OASDI Taxable Wage Base Wages Received OASDI Taxable Self-Employment Income $132,900 $106,700 $26,200 Ralph Henwood was paid a salary of $77,800 during 20-- by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $66,000...
OASDI for self employment
74700.00 wages
60,000.00 self employment
wage base is 132900.
3-8B.LO 3 See Example 3-5 on page 3-13 ME HOW 00 during 20 - by Umberger Company. In addition, during the year, Parker ee Parker was paid a salary of $74,700 during 20-- by Umberger Company. In addition as a public accountant and reported a net business income of $60,000 on his income tax started his own business as a public accountant and reported return for 20-...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees Employees' total OASDI.... Employees' total HI.... Employer's total OASDI Employer's total Hl.... 3-8BLO 3 See Example 3-5 on page 3-13 ME...
the
oasdi is not 7440. how do i calculate
pboard Font PATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some X for C B lame: D E F G H I Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appe o the night of an incorrect answer 3-8B Salary (a) The amount of FICA taxes that was withheld from his earnings paid by Umberger Company $ 74,700...
During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,900. Compute the amount of FICA taxes that should be withheld from her OASDI HI a. 9th paycheck " जी b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $189,600, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? "
QUESTION 1 What is the OASDI to be withheld from this employee for the 9th paycheck? QUESTION What is the HI to be withheld from ths employee for the 9th paycheck? QUESTION What is the OASDI to be withheld from this employee for the 22nd paycheck? QUESTION 4 What is the HI to be withheld from this employee for the 22nd paycheck QUESTION 5 What is the OASDI to be withheld from this employee for the 24th paycheck? QUESTION 6...
Brooke, a single taxpayer, works for Company A for all of 2019, earning a salary of $62,000. a. What is her FICA tax obligation for the year? b. Assume Brooke works for Company A for half of 2019, earning $62,000 in salary, and she works for Company B for the second half of 2019, earning $102,000 in salary. What is Brooke's FICA tax obligation for the year? (Round your intermediate calculations to the nearest whole dollar amount.) Kyle, a single...
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