All the listed benefits paid by an employer are required to be included in an employee's income for a tax year except one. Which one?   Question 4 options:   a)  Tuition fees for training that relates to employer's work   b)  Medical expenses of an employee   c)  Forgiveness of employee debt   d)  Cost of life insurance

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: Payroll Accounting under FUTA, what conditions must be met for a person or business to be…

A: Because you have posted multiple question we will answer the first question only and for thr…

Q: An employee whose tax return filing status is married filing jointly, whose taxable earnings for…

A: Regular Medicare tax = 1.45% of taxable earnings subject to FICA taxes

Q: Which of the following is paid by both the employer and the employee? Group of answer choices Social…

A: Payroll tax: Payroll taxes refer to the taxes which are equally contributed by employees and…

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: It is mandatory for both the employer and employee to pay​ ________.

A: Payroll accounting:   The process of payroll accounting includes the computation and payment of…

Q: What self-employment tax rate is applied to earnings that exceed $142,800 in a year and also do NOT…

A: Self-Employment Tax: Taxes for Social Security and Medicare are combined into a single payment…

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: Contributions of the employer for the benefit for the benefit of the employee to retirement,…

A: Income tax:    It is the amount a person is liable to pay on the earned amount in an accounting…

Q: An employee's net (or take-home) pay is determined by gross earnings minus amounts for income tax…

A: Federal Insurance Contributions Act is the full form of FICA. It is a mandatory payroll deduction…

Q: Which of the following taxes is paid by the employee only? Choose the best answer. Group of answer…

A: Tax is compulsory payment made by the assessee to the government .

Q: 1.  An employee whose tax return filing status is married filing jointly, whose taxable earnings…

A: * As per Bartleby policy, if multiple different questions are asked then answer first only. FICA tax…

Q: In determining an employee's net pay, which of the following taxes would not be deducted? a.SUTA…

A: Employees net pay = Gross pay - All payroll deductions

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: The employer is responsible for which of the following payroll taxes? a. 6.2% FICA—OASDI tax b.…

A: Payroll taxes: Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

Q: Which of the following employers are exempt from the FUTA (Federal Unemployment Tax Act) tax? Group…

A: The Federal Unemployment Tax Act (FUTA) is a legal law that puts a payroll tax on every business…

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: Which payroll tax is levied on both employers and employees? Both employees and employers are…

A: The payroll tax is required to be remitted to the government on the behalf of employee and is…

Q: Which of the following taxes has a ceiling and is only paid by the employer? Group of answer choices…

A: Income taxes is the amount that is charged by the government on the income earned by an individual…

Q: Statement 1: The fringe benefit tax shall be treated as a final income tax on the employee which…

A: In the given question, two statements are given related to fringe benefit tax and four options. We…

Q: Which one of the following would be a taxable benefit? (See CRA's Folio S2-F3-C2: Benefits and…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

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: The Federal Insurance Contributions Acta.  requires employer FICA liabilities to be recorded upon…

A: The correct answer is Option (d).

Q: Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not…

A: Federal Insurance Contributions Act is a common tax deducted from income from taxpayers to meet the…

Q: As You Read QUESTION What could happen if your employer did not deduct federal income taxes from…

A: Introduction:- A paycheck, also known as a paycheck is a paper document issued by an employer as…

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: substituted Filing of Tax Return is applicable

A: First option is wrong because the substituted filing of tax return is available to the employee who…

Q: Question 2: Based on the wage-bracket method, the federal income tax withholding for an employee who…

A: Wage bracket method The most simple way is to use the wage bracket method, which tells you exactly…

Q: Identify the following statement that is false.   a. If an employer is not required to withhold…

A: Withholding - Withholding is the portion of an employee's wages that is not included in his or her…

Q: Employees are subject to taxes withheld from their paychecks.  Please indicate the federal taxes…

A: Payroll tax: This is the tax which is withheld by an employer from the pay of the employee and…

Q: true or false In most situations, the total Social Security taxes levied on employers will exceed…

A: The Social Security tax rate for both employees and employers is 6.2% of employee compensation (for…

Q: The amount of federal income tax to be withheld from employee's paychecks can be calculated by

A: Federal income tax: It is a tax levied by the IRS on the annual income of the taxpayers such as…

Q: Which of the following is not deducted from an employee’s salary? a. FICA taxes.b. Unemployment…

A: Payroll tax The costs incurred by an employer to pay the employee for his labor, including other…

Q: Which of the following income is taxable? * A. Proceeds of life insurance policy paid to the heirs…

A: The taxable income is the income that is included while calculating the tax for the company or…

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: Why are deductions from employees’ earnings classified as liabilities for the employer? For each of…

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

Q: 2:Mrs. Fix-It Corp. employs two workers who, as of the beginning of the current pay period, have…

A: Assumption: business has no history of laying off employees, therefore  SUTA tax rate for Mrs.…

Q: Identify all correct statements concerning payrolls andrelated payroll costs.a. Both employers and…

A: Payroll refers to the slip of payment to the employees. It also includes the calculation and…

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: All of the following income items are includible in an employee's gross income except: a, Severance…

A: Gross income Individuals' entire earnings before taxes or other deductions are referred to as their…

Q: n employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to…

A: calculation of SUTA and FUTA tax are as follows

Q: which of the following is not a covid-19 tax relief provision available to a self-employed taxpayer?…

A: Step 1 Tax relief is an initiative that is designed to reduce the amount of taxes paid by…

Q: Which of the following statements is false regarding an employee's contribution into a 401(k) tax…

A: The question is based on the concept of Accounting theory.