W2 statement - Study guides, Class notes & Summaries

Course 8: Lesson 2: Loan Documentation questions and answers well illustrated. What percentage of income requires a commissioned borrower to provide tax returns? - correct answers.ANSWER: 25% When a borrower does not have any reported credit it is acceptable to provide 12 months canceled checks from non-traditional sources such as rent, utilities, insurance. - correct answers.ANSWER: True How many years of residency must be verified? - correct answers.ANSWER: 2 Soci...

Certified Payroll Professional Exam (CPP) Part 1|40 Questions with Verified Answers Payroll Concept Workers Status - CORRECT ANSWER Form SS8 is the IRS determination of EE or IC status. Reasonal Basis Test aka Safe Harbor Rules Sec 530-Alls ee to be treated like a IC for specific reasons such as a court order, IRS audit results, Attorney or CPA advisement, or long standing industry standard for that job role. Common Law Test- see chart for example EE is required to comply with ER instructions...

a) Calculate employee benefits W1. Salary: (275 000 x 9 months [Apr – Dec]) 2 475 000 (275 000 x 3 months [Jan – Mar] x 100/110) 750 000 Bonus paid: 275 000 Bonus obligation OB: (275 000 x 1/12) (22 917) Bonus obligation CB: (275 000 x 1,1 x 1/12) 25 208 Leave obligation OB: (52 145) Leave obligation CB: (24 – 6 – 8) = 10 days x 60% = 6 days 62 857 .’. 6 days x 275 000 x 12x 80% 252 days Shortterm employee benefits 3 513 003 W2. (2 475 000 + 750 000) (W1) x 7,5% = 241 875 ...

Certified Payroll Professional Exam (CPP) Part 2|95 Questions with Verified Answers Topic - CORRECT ANSWER Definition Knowledge of workers' compensation regulations - CORRECT ANSWER Knowledge of federal tax levy requirements - CORRECT ANSWER Knowledge of wage attachment/garnishment rules (e.g., Consumer Credit Protection Act - Bankruptcy) - CORRECT ANSWER Knowledge of child support withholding order regulations - CORRECT ANSWER Knowledge of medical support order regulation...

SkillsUSA Knowledge Questionaire with complete solution 2023Cultural Diversity _____ refers to the mixing and blending of many people from different cultures who are involved in a like activity or setting. Excessive ______ stress could lead to physical or emotional problems. Goal ________ setting is an important factor in being successful. Motto "Preparing for Leadership in the World of Work" is : Skills USA Purpose "To create enthusiasm for learning" is part...

Cultural Diversity _____ refers to the mixing and blending of many people from different cultures who are involved in a like activity or setting. Excessive ______ stress could lead to physical or emotional problems. Goal ________ setting is an important factor in being successful. Motto "Preparing for Leadership in the World of Work" is : Skills USA Purpose "To create enthusiasm for learning" is part of the : Professional A ____ journal is a publicati...

Basic Skills Praxis Test Questions and Answers 100% Accurate The following is an Iroquois poem entitled "Darkness Song." We wait in the darkness! Come, all ye who listen, Help in our night journey; Now no sun is shining; Now no star is glowing; Come show us the pathway: The night is not friendly; She closes her eyelids; The moon has forgot us, We wait in the darkness! In the context of the poem, the phrase "She closes her eyelids" (line 8) most likely refers to the (A) refus...

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...

A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be credited at closing on property with sale price of $160,000. If the required down payment is 20%, how much additional money will the buyer need to provide toward the down payment at closing? A.) $32,000 B.) $27,000 C.) $30,000 D.) $25,000 - ANSWER-D.) $25,000 $160,000 x .20 (20%) = 32000 - $7,000 = $25,000 If an applicant works 40 hours every week and is paid $13.52 per hour, w...

Why would you hide or collapse sub accounts on a report? - Answer To temporarily hide unnecessary detail and hide parent accounts What should you do after you click save & close on a customer credit memo? - Answer Choose between retained as an available credit, give a refund or apply to an invoice Which of the following CAN be memorized in quickbooks? - Answer check Which is NOT shown on the payroll summary report on quickbooks? - Answer information necessary to complete your state unem...