Payroll and taxes exam - Study guides, Class notes & Summaries

FPC Exam Fundamental Payroll Questions With Verified Answers 668-W - answerNotice of Levy on Wages, Salary, and Other Income 1096 - answerAnnual Summary and Transmittal of U.S. Information Returns Under the FLSA how old must a minor be to be employed? - answer14 What is the FUTA tax rate? - answer6.0% On form 941, the employer reports - answerSocial Security Wages What is the formula for calculating an employees net pay? - answerGross pay-deductions for taxes- other deductions Which pla...

FUNDAMENTAL PAYROLL CERTIFICATION 2024 LATEST EXAM WITH VERIFIED ANSWERS 1. Common Law Test • behavioral control • financial control • relationship of parties 2. Independent Contractor company has little control on how job should be done, worker invests on their own, no training received, no benefits, no taxes withheld 3. Employee income tax, SS, Medicare tax withheld. 4. Form SS-8 Employer can file and IRS will determine worker's status for federal tax purposes 5. Re...

Foreman Test 1 & 2 UPDATED Exam Questions and CORRECT Answers Which of the following would be considered a primecontractor? - CORRECT ANSWER- D. A contractor with whom the project owner has established a contract. Which of the following correctly identifies what is included in legitimate labor costs? - CORRECT ANSWER- D. Hourly wages, fridge benefit packages, payroll taxes insurance and safety costs, and small tools and consumables

WGU C242 Accounting Information Systems PA Exam With 100% Correct Answers 2024/2025 Identify the traits of useful information - answera. Relevant ▪ Reduces uncertainty, improves decision-making, or confirms/corrects prior expectations b. Reliable ▪ Free from error or bias, accurately represents organization events or activities c. Complete ▪ Does not omit important aspects of the events or activities it measures d. Timely ▪ provided in time for decision makers to make decisions...

FPC EXAM FUNDAMENTAL PAYROLL | COMPLETE SOLUTION | GRADED A+ 668-W - Notice of Levy on Wages, Salary, and Other Income 1096 - Annual Summary and Transmittal of U.S. Information Returns Under the FLSA how old must a minor be to be employed? - 14 What is the FUTA tax rate? - 6.0% On form 941, the employer reports - Social Security Wages What is the formula for calculating an employees net pay? - Gross pay-deductions for taxes- other deductions Which plan ...

CPWA ALL SECTIONS EXAM QUESTIONS AND REVISED ANSWERS UPDATE (ALREADY GRADED A+) 1. Planning implications of stock option award programs - Answer- - Conversion of income = converting it from Ordinary to capital gains tax rates- Ensure you get qualifying distributions for ISOs (unless stock price is decreasing)- unregistereed shares under 144 must be held for a minimum of 12 monts (6 months for registerred shares)- NQSOs: a. To avoid section 409A, the exercise price must not be less than the v...

TN Business and Law Exam Latest Version Graded A+ Success Factors in Your Business organized, consistent approach Factors in Business Failure poor planning and inadequate management Entrepreneur a person engaged in strategic activities that involve initiation and development of a new business Calculated Risk something that is well thought through where all outcomes are considered Rewards of Owning Your Own Business own boss, flexible time, freedom and independence, personal s...

CPF FINAL EXAM QUESTIONS AND ANSWERS ALL CORRECT What can be taxed? - Answer- Earned Income (income tax)- wages, salaries, tips (federal and state) Other Income - winnings Investment Income - dividends, interest Capital Gains - profits from sale of an investment Purchases (sales tax) Types of taxes - Answer- Real Estate Property Taxes - land and buildings Estate Tax- tax on sale of possessions after death - can be up to 50%! Gift Tax - gifts over $15,000 Sin Tax - Cigarettes and Al...

FPC Payroll Fundamentals Exam Questions And Answers Worker that has Fed, OASDI, Medicare, State withheld - ANS Employee Worker that requires the employer to pay ER taxes - ANS Employee Worker that receives W2 form - ANS Employee Worker that does not have taxes withheld - ANS Independent Contractor Worker that has TIN - ANS Independent Contractor Worker that receives 1099 Form - ANS Independent Contractor Asks how independent is the employee and how much control ca...