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[The following information applies to the questions displayed below.] Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 12850 Old Highway 50 , Glenbrook, Nevada, 89413 , phone number 775-555-9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533 and the Nevada Employer Account Number is E6462582020-6. Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method. For Part 1 of this project, you will complete payroll for the last month (December) of the fourth quarter (Q4) of 2021, which consists of the final pay periods of the year. Once payroll has been completed for the fourth quarter, you will then file the annual tax forms for Wayland as well as prepare each employee's form W2 in Part 2. Rounding can create a challenge. For this project, the hourly rate for the individuals should be rounded to five decimal places. Take the employee's salary and divide it by 2,080 ( 52 weeks at 40 hours per week) for full-time, nonexempt employees. NOTE: Leave the hourly rate rounded to 5 decimal places as shown in this example. After the gross pay has been calculated, then round the result to two decimal points prior to calculating taxes or other withholdings. Example: Annual Salery to Hourly Rate, Nonexempt Employee Employee Cooper's annual salary is $62,000, and he is a nonexempt employee. Hourly rate =$62,000/(5240)=$62,000/2,080 Hourly rate =$29.80769 per hour Example: Perlod Gross Pay, Salerled Employee Employee Chinson earns an annual salary of $48,000 and is paid semimonthly. Period gross pay =$48,000/24=$2,000 gross pay For pay periods with holiday hours: determine the amount paid per day, multiply by the number of days applicable to each pay period. Annual salary: $48,000/(525)=$48,000/260=$184.61538 (rounded to 5 decimal points) per day. Once you have the holiday pay, subtract it from their salary for the period for regular time. After the gross pay has been calculated, round the result to only two decimal points prior to calculating taxes or other withholdings. Employees are paid for the following holidays occurring during the final quarter - Thanksgiving day and the day after, Thursday and Friday, November 2526. - Christmas is on Saturday. Employees receive holiday pay for Friday. December 24. For the completion of this project, refer to the tax-related information in the table below. Employees' 401(k) and insurance are pre-tax for federal income tax. The SUTA (Ul) rate for Wayland Custom Woodworking is 3.25% on the first $33.400 of employee wages. There is an additional 0.05% for Career Enhancement Program (CEP). Both FUTA and SUTA have a deduction for section 125 but not for 401(k) contributions by the employee. The same is applicable for the calculation of Career Enhancement Program (CEP). Employer contribution of section 125 is 1.5 times the employee portion and should be added to wages for completion of FUTA and SUTA forms. For federal tax withholding calculations, use the percentage method tables for manual payroll systems with Forms W-4 from 2021 or later. Assume, all W-4s are received in 2021 and the Step 2 of form W4 is not checked. Federal Unemployment pate (employer only) (less Section 125) 0.6% on the first $7,000 of wages Semimonthly Federal Percentage Method for Manual Payrolls with Aependix c Forms W-4 from 2920 or later Tax Table State Unemployment Rate (employer only) (less Section 125) 3.25\% on the first $33,400 of wages Nevada Career Enhancement Program (employer only) (less Section 0.65% on the first $33,400 of wages 125) October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff. October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff. The departments are as follows: Department 00: Sales and Administration Department 01: Factory workers Department 02 : Delivery and Customer service You have been hired as of October 1 as the new accounting clerk. Your employee number is O0-SUCCE. Your name is Student Success. Your address is 16 Kelly Circle \#2, Glenbrook, NV 89413. Your phone number is 775-556-1211, you were born July 16. 1985, your Nevada driver's license number is 168575381944 expiring on your birthday in 2024 , and your Social Security number is 555-55-5555. You are nonexempt and paid at a rate of $42,000 per year as an accounting clerk. The balance sheet for WCW as of September 30,2021 , is as follows: Voluntary deductions for each employee are as follows: Voluntary deductions for each employee are as follows: For additional instructions on how to navigate and work through through Part 1 of this project, please download the student project guide here. Requlred: 1. Complete the W-4 and, using the given information, complete the 19 form to start your employee file. Complete it as if you are single with no dependents or other income, you contribute 3 percent to a 401(k). and health insurance is $50 per pay period. The following file provides the lists of acceptable documents for Form 19. (NOTE): Further Instructions on format can be found on certain cells within the forms. Employer l-9 PG 2 Sectlon should also be completed. Complete the W-4 for Student Success. Complete Steps 2-4 ONLY if they apply to you; otherwise, skip Complete Step 34 (b) on Form W-4 for only ONE of these jobs. Stere 3-4/hi nn the Fnrm WW-4 for the hiahest navinn inh ! START Read instructione carefully before completing thle form. The instructions must be avallable, elther in paper or electronically. HERE: during completion of this form. Employers are liable for errors in the completlon of thle form ANTI-DISCRIMINATION NOTICE: t is ileggal to discriminate against wark authorized indimiduals. Emiplayers CANNOT specify which document(s) an ernpityee present to establish employment autharizabion and ittentify. The refusal is hire or continue to employ an individual because the documentation presented has a future expiration dale may also constitule ilegal discrimination. I am aware that federal law provides for Imprisonment andior fines for falae atatements or uae of false documente In connection with the completion of this form. I attest, under penalty of perjury, that I am (check one of the following): 1. A citizen of the United States LA nancitizen national af the United States (See instructions) Certification C. If the employee's previous grant of employment authorization has expired, provide the information for the document or receipt that establishes continuing employment authorization in the space provided below. Docurrent Tile: have examined appear to be genuine and to relate to the Individual. THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM IT SELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPO SE OTHER THAN EDUCATIONAL. 92022 MCGraw-HIII Education. [The following information applies to the questions displayed below.] Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 12850 Old Highway 50 , Glenbrook, Nevada, 89413 , phone number 775-555-9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533 and the Nevada Employer Account Number is E6462582020-6. Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method. For Part 1 of this project, you will complete payroll for the last month (December) of the fourth quarter (Q4) of 2021, which consists of the final pay periods of the year. Once payroll has been completed for the fourth quarter, you will then file the annual tax forms for Wayland as well as prepare each employee's form W2 in Part 2. Rounding can create a challenge. For this project, the hourly rate for the individuals should be rounded to five decimal places. Take the employee's salary and divide it by 2,080 ( 52 weeks at 40 hours per week) for full-time, nonexempt employees. NOTE: Leave the hourly rate rounded to 5 decimal places as shown in this example. After the gross pay has been calculated, then round the result to two decimal points prior to calculating taxes or other withholdings. Example: Annual Salery to Hourly Rate, Nonexempt Employee Employee Cooper's annual salary is $62,000, and he is a nonexempt employee. Hourly rate =$62,000/(5240)=$62,000/2,080 Hourly rate =$29.80769 per hour Example: Perlod Gross Pay, Salerled Employee Employee Chinson earns an annual salary of $48,000 and is paid semimonthly. Period gross pay =$48,000/24=$2,000 gross pay For pay periods with holiday hours: determine the amount paid per day, multiply by the number of days applicable to each pay period. Annual salary: $48,000/(525)=$48,000/260=$184.61538 (rounded to 5 decimal points) per day. Once you have the holiday pay, subtract it from their salary for the period for regular time. After the gross pay has been calculated, round the result to only two decimal points prior to calculating taxes or other withholdings. Employees are paid for the following holidays occurring during the final quarter - Thanksgiving day and the day after, Thursday and Friday, November 2526. - Christmas is on Saturday. Employees receive holiday pay for Friday. December 24. For the completion of this project, refer to the tax-related information in the table below. Employees' 401(k) and insurance are pre-tax for federal income tax. The SUTA (Ul) rate for Wayland Custom Woodworking is 3.25% on the first $33.400 of employee wages. There is an additional 0.05% for Career Enhancement Program (CEP). Both FUTA and SUTA have a deduction for section 125 but not for 401(k) contributions by the employee. The same is applicable for the calculation of Career Enhancement Program (CEP). Employer contribution of section 125 is 1.5 times the employee portion and should be added to wages for completion of FUTA and SUTA forms. For federal tax withholding calculations, use the percentage method tables for manual payroll systems with Forms W-4 from 2021 or later. Assume, all W-4s are received in 2021 and the Step 2 of form W4 is not checked. Federal Unemployment pate (employer only) (less Section 125) 0.6% on the first $7,000 of wages Semimonthly Federal Percentage Method for Manual Payrolls with Aependix c Forms W-4 from 2920 or later Tax Table State Unemployment Rate (employer only) (less Section 125) 3.25\% on the first $33,400 of wages Nevada Career Enhancement Program (employer only) (less Section 0.65% on the first $33,400 of wages 125) October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff. October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff. The departments are as follows: Department 00: Sales and Administration Department 01: Factory workers Department 02 : Delivery and Customer service You have been hired as of October 1 as the new accounting clerk. Your employee number is O0-SUCCE. Your name is Student Success. Your address is 16 Kelly Circle \#2, Glenbrook, NV 89413. Your phone number is 775-556-1211, you were born July 16. 1985, your Nevada driver's license number is 168575381944 expiring on your birthday in 2024 , and your Social Security number is 555-55-5555. You are nonexempt and paid at a rate of $42,000 per year as an accounting clerk. The balance sheet for WCW as of September 30,2021 , is as follows: Voluntary deductions for each employee are as follows: Voluntary deductions for each employee are as follows: For additional instructions on how to navigate and work through through Part 1 of this project, please download the student project guide here. Requlred: 1. Complete the W-4 and, using the given information, complete the 19 form to start your employee file. Complete it as if you are single with no dependents or other income, you contribute 3 percent to a 401(k). and health insurance is $50 per pay period. The following file provides the lists of acceptable documents for Form 19. (NOTE): Further Instructions on format can be found on certain cells within the forms. Employer l-9 PG 2 Sectlon should also be completed. Complete the W-4 for Student Success. Complete Steps 2-4 ONLY if they apply to you; otherwise, skip Complete Step 34 (b) on Form W-4 for only ONE of these jobs. Stere 3-4/hi nn the Fnrm WW-4 for the hiahest navinn inh ! START Read instructione carefully before completing thle form. The instructions must be avallable, elther in paper or electronically. HERE: during completion of this form. Employers are liable for errors in the completlon of thle form ANTI-DISCRIMINATION NOTICE: t is ileggal to discriminate against wark authorized indimiduals. Emiplayers CANNOT specify which document(s) an ernpityee present to establish employment autharizabion and ittentify. The refusal is hire or continue to employ an individual because the documentation presented has a future expiration dale may also constitule ilegal discrimination. I am aware that federal law provides for Imprisonment andior fines for falae atatements or uae of false documente In connection with the completion of this form. I attest, under penalty of perjury, that I am (check one of the following): 1. A citizen of the United States LA nancitizen national af the United States (See instructions) Certification C. If the employee's previous grant of employment authorization has expired, provide the information for the document or receipt that establishes continuing employment authorization in the space provided below. Docurrent Tile: have examined appear to be genuine and to relate to the Individual. THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM IT SELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPO SE OTHER THAN EDUCATIONAL. 92022 MCGraw-HIII Education

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