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 2019. The company made the following quarterly payroll tax deposits during the last two years:
Quarter beginning January 1, 2017…………….……. $ 10,000
Quarter beginning April 1, 2017………….……....……. 10,000
Quarter beginning July 1, 2017…………….……....….. 11,000
Quarter beginning October 1,2017 . .…..…….....……… 12,000
Quarter beginning January 1, 2018. . .……….......... 12,000
Quarter beginning April 1, 2018. . . . . . . . . ….…..… 12,000
Quarter beginning July 1, 2018. . . . …………..……. 11,000
Quarter beginning October 1, 2018. . . …..…....….. 12,000
a. What is the amount from the lookback period?
b. In 2019 how often must Baker Company make payroll deposits?
Step by Step Answer:
a 47000 b Monthly Feedback a Quarters begi...View the full answer
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
