All of the following income items are includible in an employee's gross income except: a, Severance pay for cancellation of employment   b, Unemployment compensation   c, Payments from employer while sick or injured   d, Medical insurance premium paid by employer for employee and spouse   e, Moving expense reimbursement

Q: e excluded from an employee's income EXCEPT: Qualified moving expenses for civilian employees.…

A: Fringe benefits are those payments or services provided by the employer to its employee in-kind…

Q: 2. In the table below, fill in each column. In the FICA tax column, circle who pays the tax. In the…

A: Type of Worker FICA Tax Tax Rate FUTA Tax A) Employer (6.2%+1.45%)=7.65% 6%   Employee…

Q: Identify two different types of deductions that an employer is required to subtract from a

A: There are several deductions from paycheck but two are absolutely necessary other are optional.

Q: An employer may withhold portions of an employee's total earnings for a.state and county sales…

A: A withholding is the portion of an employee's wages that is not included in their paycheck because…

Q: 1-Which act sets the minimum wage, and what is the current wage rate?     Under the FLSA , what…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The wage base for unemployment compensation taxes are: a.  all wages paid but not including those…

A: The correct answer is Option (a).

Q: a. Assume that Eva is concidered to be an employee. What amount of FICA taxes is she required to pay…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: An independent contractor or self-employed person's employer is not required to deduct taxes, CPP,…

A: Benefits provided by employers when an employee works for a company, then every employer has to…

Q: A minimum wage earner who is also earning a self-employment income is exempt from income tax on the…

A: A minimum wage earner who is also earning a self-employment income, will not be exempt from income…

Q: How do I account for an advance to an employee and the resulting deduction?

A: An advance to employee means to pay the salary or money to such employee before the due date.

Q: Determine the employee's total income tax deduction for this pay period. Your answer:

A: Income tax is defined as the portion of the income paid to the government or the taxation authority…

Q: What is included in the journal entry to record the employer amount of the payroll? Assume gross…

A: Solution- Payroll journal entries are used to record the compensation paid to employees. These…

Q: Which of the following does NOT apply to both a W−2 and a W−​3?     A. Reports the total amount of​…

A: IRS forms W-2 and W-3 both are submitted by the employer to Social Security Administration and both…

Q: Expenditure incurred by an employee in performing their employment may be deductible under s 8-1.…

A: According to the section 8-1, all the expenditure related to the employment might be deductible.

Q: Why are deductions made by an employer from the employees' earnings/pay classified as liabilities to…

A: AN EMPLOYER HAS THE RIGHT TO MAKE DEDUCTION'S FROM EMPLOYEE'S EARNINGS OR PAY . THESE DEDUCTIONS CAN…

Q: posit for their pay. C. The fringe benefit must be subject to income tax. D. The amount of the…

A: 1  The right answer is D. The amount of the deduction must be listed on the employee's pay advice. 2…

Q: A. Find the employer's FICA deductions for each of the following employ B. Find the amounts of the…

A: This question is based on the real time interest rate for social security, Medicare and FUTA. Total…

Q: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…

A: The employer makes deductions from the employee’s salary and therefore there is some legal…

Q: Find the employer’s FICA deduction for each of the following employees. Find the amounts of the FUTA…

A: Federal Unemployment Taxes (FUTA) The threshold limit for the Federal Unemployment taxes (FUTA) is $…

Q: An employee has total gross wages of $7,000, federal withholding of 15% and state withholding of 5%.…

A: Every Employer should pay the wages to its employees after deduction of Federal withholding, State…

Q: Under RA 7641, which is a correct requirement in order that a retirement benefit shall be excluded…

A: The retirement pay may include pension and other benefits which are subject to tax. But this payment…

Q: Why are deductions from employees’ earnings classified as liabilities for the employer?

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Which of the following types of payment are exempt from unemployment taxable wage base: a.  Standby…

A: The correct answer is option (c).

Q: The portion of FICA taxes designated as Medicare is paid by a.employees only. b.the employer and the…

A: FICA is a U.S. federal payroll tax. FICA stands for The Federal Insurance Contributions Act.

Q: Which of the following is a payroll liability?          Question 43 options:   a)  The net pay…

A: SOLUTION-   PAYROLL LIABILITIES  ARE ANY TYPE OF PAYMENT RELATED TO PAYROLL THAT A BUSINESS OWES BUT…

Q: The maternity leave pay under RA 11210, otherwise known as the 105-Day Expanded Maternity Leave Law,…

A: Solution Maternity leave means leave given to a women when she is pregnant and have a baby.

Q: filling the blanks a. amount of(0,250,500 OR 1400) (for or from) AGI and (0,250,500,650,1400) is…

A: Solution:-a The following are the income tax consequence of the $1,400 if Christine choose the…

Q: Please explain the tax implications of compensation in the form of salary and wages from the…

A: SOLUTION COMPENSATION IN THE FORM OF SALARY AND WAGES : COMPENSATION REFER TO THE CASH PRIZES THAT…

Q: Under what conditions should an employer accrue an expense and the related liability for employees’…

A: Accrued Liabilities: Accrued liabilities are those expenses that are incurred but not yet paid.

Q: In 2020, Schedule 1 of Form 1040 is used to report:   a. Capital gains and losses.   b.…

A: Under IRC, Form 1040 is the form which is used for the filing of personal income tax returns. It is…

Q: Which of the following items is exempt from including into the assessable income for salaries tax…

A: Correct option is D.  End of contract gratuities     Explanation:

Q: The amount of compensation subject to OASDI tax is correctly defined as Select one: a. all amounts…

A: OASDI (Old Age, Survivors, and Disability Insurance program) tax is a tax levied by IRS on all…

Q: The W-4 form lists all of all of the following EXCEPT one: a.Lists the employee's Social Security…

A: W-4 Form List: On the updated version of Form W-4, workers are not prompted to specify personal…

Q: The employer CORRECTLY withheld the income tax from compensation. No income tax still due and…

A: Particulars  Amount Amount Basic Salary  732000   Overtime Pay 34000   Holiday Pay 56000…

Q: Which of the followings is included in taxpayer’s gross income (i.e., taxable)?

A: 1. a) Compensatory damage payments received from physical injury by accident caused by other party…

Q: FUTA taxes impose on employees and therefore are not deducted from employee wages.   A.  True B,…

A: Given statement is false.

Q: 1. Which of the following items is normally NOT assessable under salaries tax? a. Payment in lieu…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: a. O'Brien's disposable earnings b. The amount of her pay subject to the garnishment

A:

Q: Which of the following is non-taxable?  Value of employee’s living quarters furnished by the…

A: Non-taxable Income - It is the amount of an income upon which no taxed shall be levied by the…

Q: b. Assume that the employees of Purnell, Inc., must also pay state contributions (disability…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: ch is a type of nployees as to Taxability: * a. Minimum wage earners O b. Regular employees

A: Employees refer to the individuals who work for an entity for a desired period of time in exchange…

Q: When it comes to employee wages, gross pay refers to the whole amount earned before deductions.…

A: Gross salary is defined as: A payment paid to an employee for completing tasks assigned by the…

Q: In 2020, Schedule 1 of Form 1040 is used to report: a.Salary income. b.Unemployment compensation.…

A: Schedule 1 is used to report types of income that aren't listed on the form 1040

Q: An employer's obligation for post-retirement benefits that are expected to be provided to an…

A: Post-retirement healthcare benefits often are provided in terms of percentage oftotal coverage. For…