Youngston Company (a Utah employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the check amount to be $750, 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 Genna Fredrich if her earnings for the year are $55,920. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5% Utah income tax must be withheld on supplementalpayments.
Answer to relevant QuestionsJen Miller made $1,090 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Miller contributes $125 each week to her company’s 401(k) plan and has $40 put into her health savings ...During the fourth quarter of 2013, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29; December 13, 27) for Clarke's Roofing. Using the forms supplied on pages 4-58 to 4-61, complete the following ...Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows:1. Under SUTA for Arizona on taxable payroll of $28,000, the contribution rate is 3.9%.2. Under SUTA for Colorado ...The following unemployment tax rate schedule is in effect for the calendar year 2013 in State A, which uses the reserve-ratio formula in determining employer contributions:.:.Reserve Ratio Contribution Rate0.0% or ...The employees of Carson Bakery Company earn total wages of $7,780 during January. The total amount is taxable under FICA, FUTA, and SUTA. The state contribution rate for the company is 4.3%. The amount withheld for federal ...
Post your question