BUSINESS HIGH SCHOOL

When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the _______.

Answers

Answer 1
Answer: When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the W-4. The W-4 is turned in which shows the IRS what you are being taxed on, your claims (single, married, separated) your dependents if you have any and other documentation needed to be able to receive a W-2 from your place of work at the end of the year for tax purposes.
Answer 2
Answer:

When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the W-4.

Further Explanation:

The purpose of W-4 form:

The employer has the liability to pay the income tax from the side of the employee. When an individual starts or changes the job, the employer has to ensure the amount of the salary that has to be withheld for income tax. So, the employer can pay from the side of the employee.  

The employee has to fill W-4 form to in order to ascertain the amount of income tax payable and then submit it to the employee. The employee will seize the income tax amount from the salary of the employee and pay it to the federal government. The assessment of the withholding amount should be made periodically for the accurate assessment of the tax liability.

In the current case, the employee has to fill form W-4 to determine the income tax amount that should be withheld by the employer from his/her paycheck.

Learn more:

1. Learn more about the tax on the sale of an asset

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2. Learn more about the income tax

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3. Learn more about the excise tax

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Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Income Tax

Keywords: When, starting, a new, job, the form, you, complete, to determine, how, much tax, to withhold, from, your, paycheck, is, called.


Related Questions

MIDDLE SCHOOL

Which practice helps a company retain customers? A.
attending to the customers in casual attire
B.
making the customers wait to get details about a product
C.
passing customers to different sales representatives to respond to their queries
D.
treating customers with respect

Answers

Treating customers with respect is the practice helps a company retain customers. Thus, option (d) is correct.

What is company?

The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill. With the assistance of management, the organization was flawlessly run. Employees are compensated by the company.

The main practice helps a company retain customers are:

  • Positive treated increased the customer satisfaction
  • Customer engagement strategy
  • Consumer complaint are the improvement of the business as well as customer experience.
  • Proper interact to the consumer.

As a result, the significance of the company are the aforementioned. Therefore, option (d) is correct.

Learn more about on company, here:

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#SPJ5

I think B is the answer.

Making the customers wait to get details about a product.

Then the answer is treating customers with respect.

Answer:D

COLLEGE

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the following income and expenses. You may assume that Betty will owe $2,502 in self-employment tax on her salon income. Interest income $ 11,255 Salon sales and revenue 86,360 Salaries paid to beauticians 45,250 Beauty salon supplies 23,400 Alimony paid to her ex-husband, Rocky 6,000 Rental revenue from apartment building 31,220 Depreciation on apartment building 12,900 Real estate taxes paid on apartment building 11,100 Real estate taxes paid on personal residence 6,241 Contributions to charity 4,237 I nee with this information file form 1040

Answers

The adjusted gross income for Betty's salon is $28,934.

In tax filing, the salaries &  expenses of the beauty parlor are deductible on Schedule C as business expenses.

The depreciation and real estate taxes for the apartment building are deductible for AGI as rental or royalty related deductions.

The Interest income is included in AGI and the alimony expense is deductible for AGI.

Particulars                         Amount

Interest Income                  $11255

Add: Salon Revenue          $86360

Less: Salaries                      $45250

Less: Supplies                     $23400

Operating income              $17,710

Particulars                                Amount

Apartment building revenue   $31220

Apartment building income     $7220

Less: Depreciation                   $12900

Taxes on apartment building  $11100

Employer share of taxes *        $1251

Alimony Deduction                   $6000

Adjusted gross income           $28,934

Note

  • Betty will owe $2502 in self employment tax on her salon income ($17,710 * 92.35% * 15.3%)
  • $1,251 would be deductible as a for AGI ($17710 * 92.35% * 7.65%)

Read more about AGI

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Answer:

Explanation:

The salaries and expenses of the beauty parlor are deductible on Schedule C as business expenses and the depreciation and real estate taxes for the apartment building are deductible for AGI as rental or royalty related deductions. Interest income is included in AGI and the alimony expense is deductible for AGI.

Note: Assumed that the apartment building amounts represent Betty's interest and not the total amount. Te residential real estate taxes and the charitable contributions are detailed below:

Interest Income $ 11255

Salon Revenue $ 86360

Less: Salaries - $ 45250

Supplies - $ 23400

Operating income from Salon $ 17710

Apartment building revenue $ 31220

Less: Depreciation - $ 12900

Taxes on apartment building - $ 11100

Apartment building income $ 7220

Less: Employer share of self employment taxes * - $ 1251

Alimony Deduction - $ 6000

AGI $ 28934

* Betty will owe $ 2502 in self employment tax on her salon income ($ 17710 salon income * 92.35% * 15.3%)

Of the $ 2502, ($ 17710 * 92.35% * 7.65%) = $ 1251 would be deductible as a for AGI deduction

COLLEGE

Vaughn Manufacturing had average operating assets of $5000000 and sales of $2500000 in 2016. If the controllable margin was $450000, the ROI was 50%
41%
9%
18%

Answers

Answer:

9%

Explanation:

The Return on Investment (ROI) is used to directly measure the amount of return, relative to the cost of the investment. It can be calculated by dividing the controllable margin by the company's average operating assets.

Therefore, the return on investment for Vaughn Manufacturing was 0.09 or 9%.

COLLEGE

Rodriguez, Inc., is preparing its direct labor budget for 2017 from the following production budget based on a calendar year.QuarterUnitsQuarterUnits1 20,380 3 35,2202 25,110 4 30,210 Each unit requires 1.60 hours of direct labor.Prepare a direct labor budget for 2017. Wage rates are expected to be $16 for the first 2 quarters and $18 for quarters 3 and 4.

Answers

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Each unit requires 1.60 hours of direct labor. Wage rates are expected to be $16 for the first 2 quarters and $18 for quarters 3 and 4

Quarter 1= $521,728

Quarter 2= $642,816

Quarter 3= $1,014,336

Quarter 4= $870,048

Direct labor budget= (20,380*1.6*16) + (25,110*1.6*16) + (35,220*1.6*18) + (30,210*1.6*18)= $3,048,928

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