Project: Employee W$-2$ Preparation

Congratulations! When you complete this project, you$$ll have completed your program. In this project you$$ll prepare the information for Epic Company$$s W$-2$Wage and Tax Statement. A copy of the most recent IRS form can be found at the IRS website. We$$ve previously provided all of the information required for lines $117$ of the form in Practice Set $2$ and Practice Set $3.$

You$$ll insert your answers in this PDF file and save the file as PCL$\_$Final$\_[$Your Student ID$].$ For example:

PCL$\_$Final$\_12345678$

Note: Anything denoted with N$/$A does not need to be completed.

Good luck.

Employee Information

Michael Canton works for a small company called the Epic Company. He$$s the manager. The company provides Web design and computer consulting services. The company also has two other employees, Kim Brown and Johnathan Reese. They$$re all salaried employees. Mr$.$ Canton makes $$95,000$ annually, and Kim and Johnathan make $$80,000$ each.

Michael Canton Michael Canton is $47,$ married to Sylvia, $46,$ and has two dependent children, ages three and five. Both of the children are in day care at a cost of $$4,500$ per child. His W$-4$ status is married with zero exemptions, and he deducts an additional $$75\mathrm{.}00$ withheld each week. He contributes $$5,000$ annually to his child care flexible spending account, $$2,500$ to a healthcare flexible spending account, and $6\%$ of his salary to his $401$K account. He has enrolled in the medical, dental, and vision insurance plans for his entire family. He purchases additional employee group term life insurance of four times his annual salary and also is enrolled in the employee special accident insurance. He purchases life insurance for his wife at two times his salary.

$2$

$1.$ Wages, Tips, Other Compensation

$2.$ Federal Withheld

$3.$ Social Security Wages

$4.$ Social Security Tax Withheld

$5.$ Medicare Wages and Tips

$6.$ Medicare Tax Withheld

$7.$ Social Security Tips

N$/$A

$8.$ Allocated Tips

N$/$A

$9.$ Blank

$10.$ Dependent Care Benefits

$11.$ Nonqualified Plans

N$/$A

$12.$

$12$A

$12$B

$12$C

$12$D

$13.$ Name which box$($es$)$ to check

$14.$ Other

N$/$A

$15.$ State $|$ Employer$$s state ID number

$16.$ State wages, tips, etc.

$17.$ State Income Tax

$18.$ Local, Wages, Tips, etc.

N$/$A

$19.$ Local Income Tax

N$/$A

$20.$ Locality name

N$/$A

$3$

Kim Brown

$1.$ Wages, Tips, Other Compensation

$2.$ Federal Withheld

$3.$ Social Security Wages

$4.$ Social Security Tax Withheld

$5.$ Medicare Wages and Tips

$6.$ Medicare Tax Withheld

$7.$ Social Security Tips

N$/$A

$8.$ Allocated Tips

N$/$A

$9.$ Blank

$10.$ Dependent Care Benefits

$11.$ Nonqualified Plans

N$/$A

$12.$

$12$A

$12$B

$12$C

$12$D

$13.$ Name which box$($es$)$ to check

$4$

$14.$ Other

N$/$A

$15.$ State $|$ Employer$$s state ID number

$16.$ State wages, tips, etc.

$17.$ State Income Tax

$18.$ Local, Wages, Tips, etc.

N$/$A

$19.$ Local Income Tax

N$/$A

$20.$ Locality name

N$/$A

Jonathan Reese Johnathan Reese is $38,$ not married, and has no dependents. His W$-4$ status is single with one exemption. Johnathan contributes $$1,000$ to his healthcare account and $4\%$ of his salary to his $401$K account. Johnathan is enrolled in the medical, dental, and vision insurance plans. He purchases additional employee group term life insurance of two times his annual salary and is enrolled in the employee special accident insurance. He also pays a weekly student loan garnishment payment of $$75\mathrm{.}00$ per week.

$1.$ Wages, Tips, Other Compensation

$2.$ Federal Withheld

$3.$ Social Security Wages

$4.$ Social Security Tax Withheld

$5.$ Medicare Wages and Tips

$6.$ Medicare Tax Withheld

$7.$ Social Security Tips

N$/$A

$8.$ Allocated Tips

N$/$A

$9.$ Blank

$10.$ Dependent Care Benefits

$11.$ Nonqualified Plans

N$/$A

$5$

$12.$

$12$A

$12$B

$12$C

$12$D

$13.$ Name which box$($es$)$ to check

$14.$ Other

N$/$A

$15.$ State $|$ Employer$$s state ID number

$16.$ State wages, tips, etc.

$17.$ State Income Tax

$18.$ Local, Wages, Tips, etc.

N$/$A

$19.$ Local Income Tax

N$/$A

$20.$ Locality name

N$/$A