Problem: Phan Mai is a single taxpayer with two dependent children under age 17. Phan estimates her wages for the year will be $36,000 and her itemized deductions will be $11,000. Assuming Phan files as head of household, determine the number of withholding allowances Phan should claim.
Whcih form should be used to report following payment
a. interest of $400 paid by bank ___________
b. payment of $400 in dividends by a corp to a shareholder _______
Indicate the form that should be used to report the payment.
c. periodic payments from a retirement plan________
d. salary as president of the company _______
e. las vegas keno winnings of $25,000 __________
Thomas is an employer with one employee, Sarah. Sarah's wages, which were earned evenly in 2011, are $19,450, and the state unemployment tax rate is 5.4%. Calculate the following amounts for Thomas:
a. FUTA tax before the state tax credit
b. State unemployment tax
c. FUTA tax after the state tax credit