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BaLLatris [955]
3 years ago
15

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
faust18 [17]

Answer:

Jessica's for AGI deduction for these costs is:

b. $14.00.

Explanation:

The aggregate gross income (AGI) can be defined as the total amount of income that an individual earns and is used in calculating the amount of income tax that an individual is liable to pay. The AGI can be expressed as follows;

AGI=T×N×W

where;

AGI=aggregate gross income

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In our case;

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T=$1.75

N=4

W=2

Replacing;

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Jessica's for AGI deduction for these costs is:

b. $14.00.

4 0
3 years ago
Fire insurance policies include deductibles:
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If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most li
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Johann, a well-known musician, agrees to give ten guitar lessons to Elton for $2,000. Nothing in the contract itself prohibits a
Softa [21]

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