111. Which of the following forms is used by an employer to report quarterly wag

Question

111. Which of the following forms is used by an employer to report quarterly wages and federal payroll tax withholdings and deposits? (Points : 1)        Form 940
       Form 941
       Form 1099
       Form W-2
       None of the other choices

Question 112. 112. Which of the following items may be subject to the self-employment tax? (Points : 1)        A partner's distributive share of partnership income
       Dividend income
       Capital gains
       Interest income
       None of the other choices

Explanation / Answer

ans 111 Option B Form 941 Form 941 is used by employer ro report the withholdings of taxes. ans 112 A partner's distributive share of partnership income As partnerships are included I the deination of self employed ans 113 Income from a sole proprietor's law practice As this type of income is earned by self employed. ans 114 Consist of a Medicare tax and a Social Security tax. Self employment tax is 15.3% consisit of social security tax 12.4% and Medicare taxes 2.9% ans 115 FUTA ia always paid by employer only Option B Employer ans 116 Unemployment taxes paid 918 (3000*5.4%)+(7000*2*5.4%) Option C $918 Dear student I have done the first 6 multiple choice questions

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