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3 years ago

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.

Business

1 answer:

andre [41]3 years ago

4 0

Answer:

Explanation:

The organization is situated in a state with a credit decrease of 1.5 %, in this way we would register its FUTA charge by diminishing the 6% FUTA charge rate by a FUTA credit of just 3.9%, Which is the standard 5.4% credit short the 1.5 % credit decrease

This would give a compelling FUTA charge pace of 2.1 % for the year

In states that are not liable to credit decrease, the compelling FUTA charge rate stays 0.6%

The viable expense pace of FUTA will be 2.1 % for our situation.

In states that are not liable to credit decrease, the viable FUTA charge rate stays 0.6%

The powerful duty pace of FUTA will be 2.1 % for our situation.

Taxable payroll = $192,700

FUTA tax liability for the year = 7,000 × 2.1 % = $147 per year which the employer has to deposit

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3 years ago

Jessica is a U.S. Army Reservist and in 2019 traveled 130 miles each way to serve duty at a local military installation. She was

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Answer:

Jessica's for AGI deduction for these costs is:

b. $14.00.

Explanation:

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AGI=T×N×W

where;

AGI=aggregate gross income

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In our case;

AGI=unknown, to be determined

T=$1.75

N=4

W=2

Replacing;

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Jessica's for AGI deduction for these costs is:

b. $14.00.

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3 years ago

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3 years ago

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Answer:

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