At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Your boss approaches you in mid-December and requests that you pay certain employees their gross pay amount as if there were no deductions as their year-end bonuses. None of the employees have reached the Social Security wage base for the year. Required: What is the gross-up amount for each of the following employees

Sagot :

Answer:

The gross up amount for each employee is $4,500.

Explanation:

Social security wage base is a amount of tax on the salary which is used as a social security at the old age. The amount is determined based on a person's salary. The employees will have no deduction from their salary as they do are not eligible for social security wage base. The year end bonus will be the gross which is paid to the employees.

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.