Blog

FUTA and SUTA coverages extend to U.S. citizens working abroad for American employers.

Each year, the FICA (OASDI portion) taxable wage base is automatically adjusted whenever a cost of living raise in social security benefits becomes available.

The requirements for depositing FICA taxes and income taxes withheld from nonagricultural employees’ wages vary according to the amount of such taxes reported during a “lookback period.”

The entry to record the employer’s payroll taxes usually includes credits to the liability accounts for FICA (OASDI and HI), FUTA, and SUTA taxes.

If the accumulated employment taxes during a quarter are less than $2,500, no deposits are required.

Advance payments for work done in the future are not taxable wages for FUTA purposes.

Which of the following is not required by the FLSA?

If an employer pays unemployment taxes to two states, it will have the same SUTA tax rate in both states.

Which of the following is not a factor considered in determining coverage of interstate employees?

OASDI taxes are levied when the wages are earned by, rather than when paid to, employees.