Under what conditions must an employer accrue a liabilityfor the cost of compensated absences?

Q: Which of the following is not a requirement for expense reimbursements to be an accountable plan?…

A: Reimbursement plan complies with IRS regulations, according to IRS regulations, a reimbursement plan…

Q: What is a description of loss of self-employment income statment? Give example

A: When the expense exceed the revenue then it result in loss. Self employment means the person is not…

Q: Under IAS 19 Employee Benefits, how is actuarial gain or loss handled?   amount falling outside…

A: IAS 19 deals with the employee benefits. It includes the pension, benefit plans and gratuity etc.

Q: 2-Under the FLSA , what information concerning employees ' wages earned must be maintained by the…

A: Payroll Register: Payroll register is a schedule maintained by the company to record the earnings,…

Q: Under the FLSA, what information concerning employees' wages earned must be maintained by the…

A: Payroll Register: Payroll register is a schedule maintained by the company to record the earnings,…

Q: What is an employer’s unemployment merit rating? How are these ratings assigned to employers?

A: Human resource management is a concept to help the organization to evaluate the performance of each…

Q: can you help me how to Explain how an employer can receive a credit against the FUTA tax due.

A: FUTA stands for Federal Unemployment Tax Act under federal law of US. FUTA tax is paid by the…

Q: Regarding TSAS and 457(b) deferred compensation plans, both plans require contracts between an…

A: Deferred Compensation Plan : It refers to that plan under which employees defer Compensation earned…

Q: If an employee pays for a periodic medical checkup required by an employer, can the amount paid be…

A: Any amount given by the employer for a periodic medical check-up to the employee is liable for…

Q: Employer of a self-employed or independent contractor do not have to withhold CPP, EI and taxes from…

A: While withholding CPP, EI, or other taxes, it is important for an employer to determine whether the…

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: Which of the following is incorrect in relation to termination benefits? A benefit resulting from…

A: Solution: Following are correct statement in relation to termination benefits: A benefit resulting…

Q: In terms of classification of short-term compensated absences; which of the following is incorrect?…

A: Vesting short term absences entitled to cash payments for unused entitlement and non vesting short…

Q: Since they are NOT an employee, it is solely the responsibility of the independent contractor to…

A: The answer for the True or False question is given hereunder :

Q: Explain he basic arrangement in a worker’s compensation scheme. What is meant by ‘exclusive remedy”…

A: Hi, the question has multiple sub-parts and as per our policy, we will answer the first three.…

Q: Direct Compensation coverage.

A: The determinants of direct financial compensation can be classified into two categories, external…

Q: What is the rule concerning contingent fees for a covered member?

A:

Q: at is the proper way to record an advance to an employee as well as

A: A salary advance is nothing more than a loan that you can give to an employee. The advance is…

Q: A liability for compensated absences such as vacations, for which it is expected that employees will…

A: The compensation expense is the expense for which liability is recorded on the basis of future…

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: Generally, all deductions made from an employee's gross pay are required by law. True False

A: Gross pay or salary refers to the total amount which is mentioned in the employment contract…

Q: Which type of deduction does not require the employer to have the employee's written permiss O…

A: From the employees paycheck, there are various deduction which are required to be deducted by the…

Q: Employee benefits are all forms of monetary consideration given by an entity in exchange for…

A: IAS 19 Employee benefits relates to accounting of all the employee payments apart from share based…

Q: Do workers compensations statutes apply to seasonal or temporary workers? Explain

A: Definition: Worker’s compensation scheme: Worker’s compensation scheme is an arrangement that…

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: TRUE OR FALSE EMPLOYEES CAN BE CONSIDERED BOTH AN ASSET AND A LIABILITY

A: Asset and Liabilities are the backbone of a firm , as they give a clear picture of a company's…

Q: When would it be considered that income has arisen in relation to employee benefits?

A: The benefits or perks that are being offered to and given to the employees in addition to their…

Q: Employer of a self-employed or independent contractor do not have to withhold CPP, EI and taxes from…

A: If self employed or independent contractor is in employer and employee relationship then it is an…

Q: Instead of being classified as an employee, MatthewMcGinnis was misclassified as an…

A: Hiring an independent contractor instead of an employee can help the business to save money on…

Q: What is the FICA tax liability status of pretax contributions to a qualified deferred compensation…

A: FICA tax refers to the Federal Insurance Contribution Act tax which is Country U.S law that creates…

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: TRUE OR FALSE The fringe benefits tax assumed by the employer is a deductible expense of the…

A: Fringe benefits include: Employee stock option Interest-free loans Higher education assistance Cab…

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: liability for employees' compensation for future

A: A liability shall be accrued if it is to be settled in the near future.

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: 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: Are bonuses to employees subject to Income Tax? Discuss the tax implications to the taxable income…

A: Income tax An income tax is considered an important direct tax. It is an important source of revenue…

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

A: Given statement is false.

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…