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4 years ago

When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the _______.

Business

2 answers:

maksim [4K]4 years ago

5 0

Letter D. W-4 is the answer to your question.

loris [4]4 years ago

5 0

The option (D) is correct.

When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the W-4.

Further Explanation:

The purpose of W-4 form:

The employer has the liability to pay the income tax from the side of the employee. When an individual starts or changes the job, the employer has to ensure the amount of the salary that has to be withheld for income tax. So, the employer can pay from the side of the employee.

The employee has to fill W-4 form to in order to ascertain the amount of income tax payable and then submit it to the employee. The employee will seize the income tax amount from the salary of the employee and pay it to the federal government. The assessment of the withholding amount should be made periodically for the accurate assessment of the tax liability.

The employee has to fill form W-4 to determine the income tax amount that should be withheld by the employer from his/her paycheck.

Learn more:

1. Learn more about the tax on the sale of an asset

brainly.com/question/2617534

2. Learn more about the income tax

brainly.com/question/2996312

3. Learn more about the excise tax

brainly.com/question/8827242

Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Income Tax

Keywords: starting, job, form, determine, tax, withhold, paycheck, 1040EZ, 1099, W-2, W-4, income tax, TDS.

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Third option is the correct option.

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4 years ago

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4 years ago

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1 year ago

On July 1 of the current calendar year, Plum Co. paid $8,900 cash for management services to be performed over a two-year period

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A debit to an expense and a credit to a prepaid expense for $2,225

Explanation:

As plum company paid $8,900 for 2 years contract on July 1, the number of months expired at the end of the December 31 was 6 months (July to December).

When the company paid for that prepaid expense for 2 years (24 months), it recorded -

July 1 Prepaid expense (Debit) $8,900

Cash (Credit) $8,900

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3 years ago

The following information is available regarding the total manufacturing overhead of Molsen Company for a recent four-month peri

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Answer:

$198,000

Explanation:

Calculation to determine what the total manufacturing overhead estimated for August is

First step is to calculate the Variable element

Variable element=($198,000 - $153,000)/(110,000 - 80,000)

Variable element=$45,000/30,000

Variable element= $1.50

Second step is to calculate the Fixed element

Fixed element=$198,000 - ($1.50 x 110,000)

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Fixed element = $33,000

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3 years ago