1.Which of the following statements is false regarding an employee’s contribution into a 401(k) tax deferred retirement account? a.The employee’s contributions are not subject to FICA tax. b.Upon reti


1.Which of the aftercited statements is false in-reference-to an employee's aid into a 401(k) tax unlimited seclusion statement?

a.The employee's aids are not matter to FICA tax.

b.Upon seclusion, the employee procure entertain their aids tail in the arrange of established payments.

c.None of these statements are reform.

2.Use the divert consideration to designate the quantity to cohibit for federal pay tax from each of the aftercited biweekly expiation (biweekly cohibiting expiation = $161.50):

Patrick Patrone (single, 2 expiations), $925 expiation

Carson Leno (married, 4 expiations), $1,195 expiation

Carli Lintz (single, 0 expiations), $700 expiation

Tax consideration join below

https://cxp.cengage.com/contentservice/assets/T=1587480948747/btpa20t/images/chapter04/Exhibit_4-1.html

3.Mary Matthews made $950 during a biweekly pay date simply collective warranty (amply taxable) and federal pay taxes exercise to her pay. Matthews contributes $100 each biweekly pay to her society's 401k. Designate Matthews follow home pay if she is married and claims 2 expiations.

(biweekly cohibiting expiation = $161.50)

Tax consideration join below

https://cxp.cengage.com/contentservice/assets/T=1587480948747/btpa20t/images/chapter04/Exhibit_4-1.html

4.Determine the pay tax to cohibit from the biweekly expiation of the aftercited employees (wage-bracket)

Karen Overton (single, 0 expiations), $900 expiation

Alan Glasgow (married, 1 expiation), $980 expiation

Ginni Lorenz (single, 1 expiation), $580 expiation

(biweekly cohibiting expiation = $161.50)

Tax consideration join below

https://cxp.cengage.com/contentservice/assets/T=1587480948747/btpa20t/images/chapter04/Exhibit_4-1.html

5.Edward Dorsey is a part-time employee, and during the biweekly pay date he earned $395. In restoration, he is entity compensated a benefit of $300 along after a while his established pay. If Dorsey is one and claims two cohibiting expiations, how fur would be deducted from his pay for FIT?

Hint: There are two ways to designate his deduction—do not use considerations for percentage mode.

(biweekly cohibiting expiation = $161.50)

Tax consideration join below

https://cxp.cengage.com/contentservice/assets/T=1587480948747/btpa20t/images/chapter04/Exhibit_4-1.html

6.Carson Smart is compensated $1,200 whole two weeks plus a taxable lodging expiation of $100. He is a participant in the society 401(k) drawing and has $150 deducted from his pay for his aid to the drawing. He is married after a while two expiations. How fur would be deducted from his pay for federal pay tax (using the wage-bracket consideration)?

(biweekly cohibiting expiation = $161.50)

Tax consideration join below

https://cxp.cengage.com/contentservice/assets/T=1587480948747/btpa20t/images/chapter04/Exhibit_4-1.html