Damerly Company (a Utah employer) wants to give a holiday bonus check of $375 to each employee. Since it wants the check amount to be $375, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental payments.

Q: Ramon Alvarez, of Nome, Alaska, signed up for his employer's flexible spending account plan…

A: Given: Tax rates that are being paid by Ramon are 15%, 7.65% and 4% respectively. Amount = $ 3,000

Q: 2. Jonathan Olsen earns $9.10/hour, and worked 47 hours during the most recent week. He participates…

A: A payroll register is maintained by the employee. In this register, the employee records the details…

Q: Damerly Company (a Utah employer) wants to give a holiday bonus check of $350 to each employee.…

A: The total tax rates applied to the gross bonus amount, 37.6% is obtained by adding the rate of…

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: You have been asked to prepare the entry to record the payroll on February 15, 20X1, for Hotel…

A: To determine each employee's FICA tax liability, multiply their gross pay by 7.65%, as seen below.…

Q: Damerly Company (a Utah employer) wants to give a holiday bonus check of $250 to each employee.…

A: Following is the answer to the given question

Q: Mattola Company is giving each of its employees a holiday bonus of $100 on December 13, 20-- (a…

A: Taxable income: It is the part of the income on which tax to be paid to state and tax authorities to…

Q: Mara’s employer provides each employee an amount of P8,000 Christmas Bonus. How much of the bonus is…

A: In the purview of the given question, we are required to compute the tax on the bonus, and net…

Q: Cardo  is private rank and file employee working in a remote an Internet Company received the…

A: Answer: Concept: De minimis benefits are those benefits that are given by employer to employee .…

Q: Mandy Feng employs Jay Johnson at a salary of $35,000 a year. Feng is subject to employer Social…

A: Total cost to employer: Total cost includes employee's gross salary and employer's payroll taxes…

Q: A taxpayer spends well over $50 each month on public transit, and the taxpayer’s employer is…

A: As per the hint provided in the question, that the non taxable fringe benefits are not liable to…

Q: Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding…

A: The answer is $44.60.

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…

A:

Q: Ana Rosa, president of the Apoka Company, has a bonus arrangement with the company under which she…

A: Bonus = net income x rate100 + rate  Provision  for income tax = ( net income - bonus ) x tax rate…

Q: Mike Smith is a college football coach making a base salary of $720,000 a year ($60,000 per month).…

A: Amount withheld for Social Security=Social Security base amount×Social Security tax rate Amount…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent.…

A: Payroll taxes are taxes that are paid by employer and employee on the amount of salaries paid to…

Q: Mattola Company is giving each of its employees a holiday bonus of $900 on December 13, 20-- (a…

A: Holiday bonus means salary or payroll expenses are incurred for a day, on which day employees have…

Q: Thomas Longbow is the only employee of Presido, Incorporated During the first week of January,…

A: Amount of Employee Payroll Check= Income Earned  - Federal and State withholding tax  - FICA…

Q: Christine Erickson is the payroll accountant for Multi Winds Energy of Lincoln, Nebraska. The…

A: Here discuss about the details of the payment of net pay which are incurred to the employees after…

Q: During tax year 2021, Monsters, Inc. incurs the following expenses related to their annual…

A: IRS has made one exception to standard 50% rule for entertainment expense. The party expense incur…

Q: Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and…

A: If the employee of the corporation is entitle for SUTA tax, then the liability for FUTA tax becomes…

Q: Mike Samson is a college football coach making a base salary of $652,800 a year ($54,400 per month).…

A: Given information is: Mike Samson is a college football coach making a base salary of $652,800 a…

Q: John Waits owns a small shop with two employees. For one payroll period the total withholding tax…

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Louis Welch is general manager of Moonwalk Salons. During 2024​, Welch worked for the company all…

A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…

Q: Coronado Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work…

A: Gross pay is the measure of cash of the worker get before the tax and allowances . Net pay is the…

Q: Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions…

A: Here to ask to prepare to find the tax details of social security taxes, Medicare taxes and federal…

Q: Damerly Company (a Utah employer) wants to give a holiday bonus check of $325 to each employee.…

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

A: In this question,  federal income tax year didn't mentioned. I am assuming for the year 2019.Note:…

Q: Your boss approaches you in mid-December and requests that you pay certain employees their gross pay…

A:

Q: Abigail Trenkamp owns and operates the Trenkamp Collection Agency. Listed below are the name, number…

A: Given: Trenkamp uses a weekly federal income tax withholding table. Social Security tax is withheld…

Q: Your boss approaches you in mid-December and requests that you pay certain employees their gross pay…

A: Gross-up is the amount above the gross pay that accounts for the taxes and that must withhold from…

Q: Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Definition: Journal entry: It is the entry to record the financial and business transactions and has…

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…

A: Net take home pay means gross pay after deducting all the payroll taxes like federal income tax,…

Q: Your boss approaches you in mid-December and requests that you pay certain employees their gross pay…

A: Total percentage deductions=Bonus tax rate+Social security tax+Medicare taxes…

Q: Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films…

A: Employer taxes  Social Security tax: Withhold 6.2% of each employee’s taxable wages until they earn…

Q: The payroll of YellowCard Company for September 2020 is as follows. Total payroll was $480,000, of…

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

Q: a. Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Journal entry refers to an entry that is made to record the transactions which are financial in…

Q: Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees…

A: (1) Employee Name - Glen Riley (2) Advance taken - $ 1,650 (pay back in equal parts of $ 825 in Nov.…

Q: Trey Morgan is an employee who is paid monthly For the month of January of the current year, he…

A: Here in this question, we are required to calculate the net pay amount. For calculating net pay, we…

Q: In this chapter, we learned that FICA mandates that employers deduct taxes from employees' pay each…

A: Since the year for the calculation of taxes is not given it is taken as Year 2022.

Q: Mattola Company is giving each of its employees a holiday bonus of $875 on December 13, 20-- (a…

A: Introduction :- On December 13  Mattola Company will give everyone of its employees a $875 holiday…

Q: nter deductions beginning with a minus sign (-). Round interim amounts to two decimal places. Use…

A: Calculation of Net pay using the wage bracket Particulars Amount Gross Pay $300  Federal…

Q: Larren Buffett is concerned after receiving her weekly paycheck. She belleves that her deductions…

A: FICA funds for social security and Medicare for employees. Taxable earnings for social security and…

Q: Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and…

A: The IRS provisions say, FUTA Tax Rate (flat) = 6% but it can be reduced to 0.6% by taking Tax Credit…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Lenders and landlords evaluate an individual's gross income to decide if that person is a worthy…