6-4 Complete Form 941 Practice Set B 219 Complete Form 941 for the 1st quarter of 2019 for Bouncing Babies Co. (Employer Identification #33-3333333). that Bouncing Babies Co. (located at 91 Bayberry Avenue, Baton Rouge, LA 70714) chooses to complete Form 941 on the due date. Based on the lookback period, Bouncing Babies Co. is a monthly depositor. that all necessary deposits were made on a timely basis and that the employer made deposits equal tal amount owed for the quarter. All 32 employees worked during each of the three months, and the elects to allow its accountant (William Gordon, telephone #225-555-7846, PIN #83463) to discuss the th the IRS. Additionally, William signs the form, and no employee is subject to Additional Medicare Tax the quarter. First quarter earnings and associated taxes withheld from employee earnings are as follows: January Taxes February Taxes March Taxes 1st Quarter Earnings $12,400.00 $12,720.00 $12,120.00 $331,200 FWT $7,579.50 $7,240.36 $7,990.13 $367,903 Social Security $1,772.63 $1,693.31 $1,868.66 $367,903 Medicare
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- January Taxes: $12,400.00 - February Taxes: $12,720.00 - March Taxes: $12,120.00 To find the total taxes paid in the first quarter, we add these amounts together: $12,400.00 + $12,720.00 + $12,120.00 = $37,240.00 Show more…
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Start period 02 | 01 | 2019 End period 02 | 15 | 2019 Gross Pay $1,828.00 Earnings Taxes Deductions $4,828.00 Federal Tax 5450 26 Acan {Vsw *91 AxiSocaabecute6 042814 HE 83337F 9321 Kozlz%30l Net Pay
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Repeat Exercise 59 using the following information for tax year 2012 : $$\begin{array}{|c|c|c|c|}\hline \begin{array}{c}\text { If your tax- } \\\text { able income } \\ \text { was over ... }\end{array} & \begin{array}{c}\text { But not } \\\text { over ... } \end{array} & \text { Your tax is ... } & \begin{array}{c}\text { Of the } \\ \text { amount } \\\text { over ... }\end{array} \\ \hline \$ 0 & 8,700 & 10 \% & \$ 0 \\\hline 8,700 & 35,350 & \$ 870.00+15 \% & \$ 8,700 \\ \hline 35,350 & 85,650 & 4,867.50+25 \% & \$ 35,350 \\\hline 85,650 & 178,650 & 17,442.50+28 \% & \$ 85,650 \\ \hline 178,650 & 388,350 & 43,482.50+33 \% & \$ 178,650 \\\hline 388,350 & - & 112,683.50+35 \% & \$ 388,350 \\\hline\end{array}$$
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