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I need help figure out how to properly calculate Prevailing

Customer Question
Wage per Davis-Bacon act include...
I need help figure out how to properly calculate Prevailing Wage per Davis-Bacon act include Fringe Benefits + 10% and what of the fringe benefit pay is subject to witholding
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: ?
JA: What confuses you?
Customer: your response
JA: What state are you in? It matters because laws vary by location.
Customer: this is for Missouri
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Submitted: 1 year ago.Category: Tax
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Answered in 6 days by:
11/17/2016
Tax Professional: Dr. Fiona Chen, Certified Public Accountant (CPA) replied 1 year ago
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 482
Experience: Former IRS Revenue Agent
Verified

Dear Customer,

1) The fringe benefit under Davis-Bacon Act, a labor law, includes such as sick leave, vacation, health insurance, etc.

https://www.dol.gov/whd/programs/dbra/faqs/fringes.htm

https://www.dol.gov/whd/regs/compliance/whdfs66.pdf

2) Vacation, sick leave, and holiday day pay are compensation. They are included in wages and is subject to payroll taxes including withholding.

3) For a complete list on employee benefits and a broader issue of which ones are subject to taxable wages and/or deductible for the employer, we need to refer to the IRS publication 15-B. https://www.irs.gov/pub/irs-pdf/p15b.pdf

The benefit can include privilege of driving company car and free gym use at the job site.

Please feel free to follow up.

Regards,

Fiona

Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP

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