Answer:
From the information provided
Federal rate tax of earnings = 30000 × 0.6%
= 30000 × 0.006
= 180
State rate tax of earnings = 30000 × 5.4%
= 30000 × 0.054
= 1620
Medicare taxes = 2625
Social security taxes = 10500
Total payroll tax expenses = Medicare taxes + social security taxes + state rate tax on earnings + federal rate tax on earnings
= 10500 + 2625 + 180 +1620
= $ 14925
THUS,
JOURNAL ENTRY
___Accounts_______Debit ($)____Credit ($)
Payroll Tax Expense__ 14925
Social Security Payable___________ 10,500
Medicare Payable________________2625
FUTA Payable ___________________180
SUTA Payable ___________________1620
Answer:
C) if the court finds that Shawn has substantially performed, he will be able to recover the contract price less any damages caused by his failure to perform as promised.
Explanation:
From the question Harry signed a contract with Shawn to build a house. Harry made some specification to build the house. But Shawn did not follow the specifications now Harry doesn't want to pay him the contract amount.
Under doctrine of specific performance, Harry can pay less money than the contract price. Because Shawn has performed substantially, he is not entitled to receive the contract price as agreed.
I believe this problem has the following choices:
They talk about family problems as they arise.
Renaldo discusses his ex-wife's flaws in front of the
children.
Renaldo and Inez make time each week to spend alone
together.
The family regularly spends time with other stepfamilies.
The family has enrolled in a course to learn how to avoid
problems.
From the text, we can conclude that the correct answer
is:
>Renaldo discusses his ex-wife's flaws in front of the
children.
(C) They treat income as 'passed through' to the investor for tax purposes.
<h3>
What are mutual funds?</h3>
- A mutual fund is an investment vehicle that is professionally managed and collects money from a number of investors to buy securities.
- The phrase is frequently used in the US, Canada, and India, while open-ended investment companies in the UK and SICAVs in Europe are comparable global structures.
- Mutual fund distributions, whether made in the form of cash payments or reinvested in additional shares, must be taxed if shares are held in a taxable account.
- Following the end of each calendar year, the funds submit IRS Form 1099-DIV detailing distributions made to shareholders.
<h3>Who are investors?</h3>
- A person who invests money does so in the hope of earning a profit or gaining an advantage in the future.
- The majority of the time, the investor purchases some kind of property using these assigned funds.
<h3>What is tax?</h3>
- Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
- A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national).
- Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt.
Therefore, "(C) They treat income as 'passed through' to the investor for tax purposes" is not the advantage of owning mutual funds.
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