Multiple choice Questions 1 Employers pay a maximum

federal unemployment tax #4059

Multiple choice Questions1. Employers pay a maximum federal unemployment tax of 6.0% on
how much of an employee’s taxable wages for 2014?a. $1,800.b. $3,800.c. $5,800.d. $7,000.2.
Carlos has two jobs; he is an attorney (not a partner) in a law firm and he has a small legal
practice (sole proprietorship) providing real estate legal services. How does he compute his
federal income tax for the year?a. His wages from the law firm are taxed as an employee, as
are his wages from the private practice.b. His wages from the law firm are considered self-
employment, as are the earnings from his private practice.c. His wages from the law firm are
taxed as an employee, and his earnings from his private practice are taxed as a self-employed
proprietor.d. His wages from the law firm are taxed as an employee, and his earnings from self-
employment are taxed up to the maximum for social security only.3. Adrienne is a self-employed
attorney. She has net earnings (profit) from her practice of $106,800. Her self-employment
taxes for the year are:a. $13,117.76.b. $13,338.85.c. $14,204.40.d. $15,090.36.4. Carol works
for ABC Company and earned $63,000 for the entire 2014 year. How much in FUTA tax is her
employer required to withhold in her name? Assume that the employer receives the maximum
credit for state unemployment taxes.a. $0 .b. $42.00c. $43.40. d. $420.00.5. On January 2,
2014, Jane employed a part-time household worker in her home. She paid the household
worker $350 per month for 2014. What amount of FICA tax is Jane required to record on
Schedule H?a. $237.30. b. $321.30.c. $558.60.d. $642.60.6. A taxpayer with 2014 AGI of
$160,000 has no income tax withholding and is required to pay estimated taxes. The taxpayer
can avoid an underpayment penalty by payinga. At least 90% of the 2014 tax liability ratably
over four quarterly payments.b. At least 110% of the 2014 tax liability ratably over four quarterly
payments.c. At least 90% of the 2013 tax liability ratably over four quarterly payments.d. 100%
of the 2014 tax liability ratably over four quarterly payments.7. Adam received a bonus of
$4,400 from his employer. Which one of the following federal income withholding tax amounts is
not in accordance with IRS rules regarding supplemental wage payments? Adam earns
biweekly wages of $3,500, is single, and claims one allowance. Assume his employer uses the
percentage method of withholding.a. $1,251.45 on his bonus if taxes were already withheld from
his regular pay.b. $1,558.61 if his bonus and wages are paid on different dates within the pay
period.c. $1,755.93 if his bonus is taxed at the supplemental wage percent and added to his
regular wages paid in the same period.d. $1,907.38 if his bonus and wages are paid at the
same time during the pay period.View Solution:
Multiple choice Questions 1 Employers pay a maximum federal unemployment tax

ANSWER
http://paperinstant.com/downloads/multiple-choice-questions-1-employers-pay-a-maximum-
federal-unemployment-tax/

1/1
Powered by TCPDF (www.tcpdf.org)