Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year
Question:
Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2015. The company made the following quarterly payroll tax deposits during the last two years:
Quarter beginning January 1, 2013............................. $ 10,000
Quarter beginning April 1, 2013..................................... 10,000
Quarter beginning July 1, 2013....................................... 11,000
Quarter beginning October 1, 2013 ...............................12,000
Quarter beginning January 1, 2014 ............................... 12,000
Quarter beginning April 1, 2014 .................................... 12,000
Quarter beginning July 1, 2014 . . . . .............................. 11,000
Quarter beginning October 1, 2014 . . . .........................12,000
a. What is the amount from the look-back period?
b. In 2015 how often must Baker Company make payroll deposits?
Step by Step Answer:
a 47000 Quarters beginning July 1 2013 A...View the full answer
Fundamentals Of Taxation 2016
ISBN: 9781259812774
9th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
