Contributions of the employer for the benefit for the benefit of the employee to retirement, insurance and hospitalization benefit plan is subject to the fringe benefit tax. TRUE OR FALSE?

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: health insurance plan is also available. b.Long-term care premiums may not be deducted within…

A: In a nutshell, the self-employed health insurance deduction allows self-employed people to deduct…

Q: es a SIMPLE IRA have a matching contribution from the employer to the employee?  Yes or No.

A: Simple IRA refers to the savings incentive match plan for the employees of the company which is a…

Q: pioye ecunty Answer: A. O is greater than the employee's Social Security ta 3. O is the same as the…

A: The federal unemployment tax act (FUTA) with state unemployment systems providers for payments of…

Q: who are benefits or do not benefit from payroll tax deferral?

A:

Q: Under a noncontributory plan, only the employee makes contributions to the retirement benefit plan.…

A: Under a non contributory pension or defined benefits plan, only an employer contributes and no…

Q: A tax-advantaged pension plan, such as a 401(k), that both employer and employee may contribute that…

A: 401(k) is a defined contribution pension plan in which employee and employer can make contributions…

Q: Explain what an experience or merit rating is and how it affects the amount paid by an employer for…

A: State Unemployment Insurances taxes: These are the taxes paid by the employer to the credit of the…

Q: Which type of pension plan would you prefer to be covered under (i.e., defined benefit, defined…

A: In this there are many types of pension plans available and each have own characteristics.

Q: Taxpayers who make after-tax contributions to a qualified employer plan recover their investment…

A: Taxpayer who makes after tax contribution to a qualified employer plan recover their investment…

Q: proper plan

A: The obligation for collecting and remitting withholding taxes to the Internal Revenue Service lies…

Q: The Social Security payroll tax is split equally between the employee and the employer. Would it…

A: Social Security tax is the tax levied on both employers and employees to fund the Social Security…

Q: If a pension plan is both contributory and qualified, it is

A: First let us understand the key terms in the question. Pension plan- A Pension plan is an…

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 is not an employer payroll tax?

A: Federal income tax is the liability of the employee to pay tax on the income and is deductible from…

Q: Payments by employers of premiums on life insurance for employees are not taxable benefits. Select…

A: Tax deductible Expenses: Expenses that are deductible for tax purposes include those deemed…

Q: Pension benefits contributed by the employer affects both the projected benefit obligation and…

A: A projected benefit obligation (PBO) is an actuarial measurement of what a company will need at…

Q: A taxpayer can not claim the hefalth insurance premium tax credit if?

A: Tax is the charge which is charged on the taxable income of a taxpayer and each taxpayer wants to…

Q: Which of the following payroll related taxes are paid by the employer? Choose the best answer. Group…

A: Social Security Tax and Medicare Tax are taxes that are deducted from employee's salary. There are…

Q: The vested benefits are employee benefits that are not conditional on future employment. benefits…

A: Solution: The vested benefits are "employee benefits that are not conditional on future employment."…

Q: Under a noncontributory plan, only the employee makes contributions to the retirement benefit plan.…

A: Introduction:- Non contributory plan is a pension. Noncontributory plans are greater beneficial for…

Q: Qualified pension plans offer important tax benefits. What is the special tax treatment and what…

A: Definition:   Pension plan: It refers to a plan that is formulated to provide earnings to the…

Q: In a defined-benefit plan, a formula is used that Select one: a. requires that the benefit of gain…

A: A defined benefit plan is the plan which is contributed by the employer on behalf of the employee to…

Q: If an employer has a defined benefit pension plan, what components would make up its net periodic…

A: Defined benefit pension plans have a specific and a determinable benefit, which can take the form of…

Q: With respect to qualified retirement plans, nondiscrimination rules prohibit employers from giving…

A: Non discriminatory rules prohibit a Company to give preferential treatment to some of its key…

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: The cost of educational assistance extended by an employer to the dependents of an employee shall be…

A: Tax is financial charge or levy imposed by the government of the country to make government…

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: Payroll tax expense related to this employee will be:

A: Income tax refers to the amount paid by an individual or company to the government for financing the…

Q: It refers to a plan where only the employer contributes to a retirement fund.  a. Contributory plan…

A: RETIREMENT FUNDS:                                       These are the investment options that allow…

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: The Following fringe benefits shall not be subject to basic tax or fringe benefit, except:  a)…

A: Fringe Benefit Tax Fringe Benefit Taxes which are taken from the employee of the business entity to…

Q: How is the Self-Employment (SE) tax calculated?  What types of income are subject to the SE tax

A: Self-employment tax is a combination of Social Security and Medicare taxes The self-employment tax…

Q: Explain the tax treatment of provision of accommodation or housing benefit to an employee

A: Income Tax treatment of provision of accommodation or housing benefit to an employee : Employers…

Q: Which of the following does not describe a defined contribution plan? The employer bears the risk…

A: The question is related to Employee benefits. Define Contribution plan is plan where the employee…

Q: Employees are subject to FUTA taxes, which are not deducted from their pay. A. True B, False

A: This question deals with Employees are subject to FUTA taxes,

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 following is not an employer payroll tax? Multiple Choice Social Security tax equal to…

A: The following are categorized under employer payroll tax, Federal unemployment tax State…

Q: It is a type of retirement plan where the benefit to be received by the employee is dependent on the…

A: Retirement plans are those in which amounts are invested periodically which accumulate until the age…

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

A:

Q: TaxpYer who make after-tax contributions to a qualified employer plan recover their investment cost…

A: Taxation: Taxation refers to the imposition of compulsory financial obligation by the government on…

Q: If pension expense recognized in a period exceeds the current amount funded by the employer, what…

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…