topic Futa help in Business & farm

Futa help

bcb4wd — Tue, 28 Jan 2020 20:52:47 GMT

Can anyone answer this ..I am a math dummy and I am sure it's a simple answer. Looking at Futa form I had 2 employees for 2019 one made 15K the second came in pt in Dec and had a $500. paycheck in 2019. Do I pay the minimum on the 2 (14k) x.006 = $42each or on the 7000 + 500x .006 =$45. Thanks...

Re: Futa help

DavidS127 — Tue, 28 Jan 2020 21:16:21 GMT

You pay on the first $7,000 for each employee. So, for you a total of $7,500.

Re: Futa help

bcb4wd — Tue, 28 Jan 2020 21:38:00 GMT

thanks..so am I right with the calculation of 7k for 1st full timer and the second was 3rd qtr 479.50 so 7479.50 x .006 for a total of 44.87. Jeez louise that is why I am a hairdresser...not much math..now I realize I have done them wrong the last 2 years. But the IRS never figured out my mistake..Much thanks!