Homework Answers
3. The lookback period for 20XC is July 1st 20XBA to June 30th 20XB i.e. Q3&4 of 20XA and Q1&2 of 20XB
If total payroll taxes for the look back period is more than $50,000 then deposits to be made on the semi weekly schedule
Here total payroll taxes are 38000+10000+3100+10700 = $61,800
Therefore Becky is a semi weekly depositor.
4. Monthly deposits must be made by 15th of the next month.
a.Therefore for november Tax to be paid by Dec 15th
Under semi weekly depositing one must deposit the taxes associated with the wages paid on Wednesday, Thursday or Friday by the following Wednesday and deposit the taxes associated with the wages paid on Saturday, Sunday, Monday or Tuesday by following Friday
Answers:
b.Wednesday
c..Wednesday
d.Wednesday
e.Friday
f.Friday
g.Friday
b.
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Monthly versus Semiweekly Depositor 3. In December 200B, Becky is trying to find out whether she...
Look-Back Periods 1. Label the following look-back periods for 20XC by months. A B C D...
Look-Back Periods 1. Label the following look-back periods for 20XC by months. A B C D 20XA 20XB Monthly versus Semiweekly Depositor 2. In December 200B, Becky tries to find out whether she is a monthly or semiweekly depositor for FICA (OASDI and Medicare) and federal income tax for 20XC. Please advise based on the following taxes owed: 20XA Quarter 3 Quarter 4 Quarter 1 Quarter 2 $44,000 10,000 3,100 10,700 20XB
what do you mean by Not Finance Look-Back Periods 1. Label the following look-back periods for...
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Lidge Company of Texas (TX) is classified as a monthly depositor and pays its employees monthly....
Lidge Company of Texas (TX) is classified as a monthly depositor and pays its employees monthly. The following payroll information is for the second quarter of 2 WITHHOLDINGS EMPLOYER'S Wages FIT HI НІ $1,248.46 April $9,650 $1,248.45 $86,100 92,500 May OASDI $5,338.20 5,735.00 4,550.80 $15,624.00 10,005 OASDI $5,338.20 5,735.00 4,550.80 $15,624.00 1,341.26 1,064.30 1,341.25 June 73,400 8,995 1,064.30 Totals $252,000 $3,654.02 $28,650 $3,654.00 The number of employees on June 12, 20-- was 11. a. Complete the following portion of Form...
Lidge Company of Texas (TX) is classified as a monthly depositor and pays its employees monthly....
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Look-Back Periods 1. Label the following look-back periods for 20XC by months. A B C D 20XA 20XB Monthly versus Semiweekly Depositor 2. In December 200B, Becky tries to find out whether she is a monthly or semiweekly depositor for FICA (OASDI and Medicare) and federal income tax for 20XC. Please advise based on the following taxes owed: 20XA Quarter 3 Quarter 4 Quarter 1 Quarter 2 $44,000 10,000 3,100 10,700 20XB
what do you mean by Not Finance
Look-Back Periods 1. Label the following look-back periods for 20XC by months. A B C D 20XA 20XB Monthly versus Semiweekly Depositor 2. In December 200B, Becky tries to find out whether she is a monthly or semiweekly depositor for FICA (OASDI and Medicare) and federal income tax for 20XC. Please advise based on the following taxes owed: 20XA Quarter 3 Quarter 4 Quarter 1 Quarter 2 $44,000 10,000 3,100 10,700 20XB
Lidge Company of Texas (TX) is classified as a monthly depositor and pays its employees monthly. The following payroll information is for the second quarter of 2 WITHHOLDINGS EMPLOYER'S Wages FIT HI НІ $1,248.46 April $9,650 $1,248.45 $86,100 92,500 May OASDI $5,338.20 5,735.00 4,550.80 $15,624.00 10,005 OASDI $5,338.20 5,735.00 4,550.80 $15,624.00 1,341.26 1,064.30 1,341.25 June 73,400 8,995 1,064.30 Totals $252,000 $3,654.02 $28,650 $3,654.00 The number of employees on June 12, 20-- was 11. a. Complete the following portion of Form...
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