PLEASE TYPE THE ANSWER, MOST WRITTEN ANSWERS ARE INELIGIBLE.
For the Following Discussion question, you will have a set of data provided to you. With the data provided, calculate the Federal Income tax to be withheld using the Wage Bracket Method.
Data-
Employee: Melissa Smith
Marital Status: Single
No of Allowances: 3
Salary: $800 Weekly
Federal Income Tax Withheld: ?
There are several ways to figure out Income Tax withholding. Under the Wage Bracket Method, we have to find the proper table for the payroll period and the employee's marital status as shown in Form W-4. Assuming the year in the question is 2019.
In 2019, there are no weekly tables, there are semi-monthly tables.
Semi- Monthly Salary = 2 * $800 = $1,600
To calculate the Federal Income tax to be withheld using the Wage Bracket Method for 2019, Wage Bracket Method Tables for Income Tax Withholding SINGLE Persons—SEMIMONTHLY Payroll Period (For Wages Paid through December 2019) is used.
As per the table, with wages between $1,590 and $1,609 semi-monthly wages and with number of witholding allowances claimed as 3, the Federal Income Tax to be withheld is $102.
Hence, Federal Income Tax Withheld for Melissa is $102.
PLEASE TYPE THE ANSWER, MOST WRITTEN ANSWERS ARE INELIGIBLE. For the Following Discussion question, you will...
For the Following Discussion question, you will have a set of data provided to you. With the data provided, calculate the Federal Income tax to be withheld using the Wage Bracket Method for 2019. Data- Employee: Melissa Smith Marital Status: Single No of Allowances: 3 Salary: $800 Weekly Federal Income Tax Withheld: ?
For the Following Discussion question, you will have a set of data provided to you. With the data provided, calculate the Federal Income tax to be withheld using the Wage Bracket Method. Data- Employee: Melissa Smith Marital Status: Single No of Allowances: 3 Salary: $800 Weekly Federal Income Tax Withheld: ? Use 2020 IRS Withholding Tables located on the IRS website to make your calculations.
Determine the amount of weekly federal income tax to be withheld using the wage bracket method. Gross Earning Marital Status Allowances Amount $469.90 Single 3
Using 2016 Withholding rates.
4-2A LO 3 See page 4-15 withhold from the wages or salaries of each employee Use the percentage method to compute the federal income taxes to No. of Withholding Allowances Employee Amount to Be Withheld Employee Marital Gross Wage or Salary No. Name Status Amoroso, A Finley, R. Gluck, E Quinn, S. Treave, Y $1,610 weekly 825 biweekly 9,630 quarterly 925 semimonthly 2,875 monthly 4 2 0 3 5 4 8 3 SHOW ME HOW 4-3A...
Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. Table of Allowance Values for 2019 Weekly 80.80 Biweekly 161.50 Semimonthly 175.00 Monthly 350.00 Quarterly 1,050.00 Semiannual 2,100.00 Annual 4,200.00 Daily/Misc. 16.20 Amount to Be Withheld Employee Marital Status No. of Withholding Allowances Gross Wage or Salary Percentage...
Data about the marital status, withholding allowances, and weekly salaries of the four office workers at Peter Office Supply Company follow. (Use the tables shown in Figure 10.2a & Figure 10.2b.) Find the amount of federal income tax to be deducted from each employee’s gross pay. Employee No. Marital Status Withholding Allowances Weekly Salary Income Tax Withholding 1 M 2 $675 2 S 1 565 3 M 2 665 4 S 1 495
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5%...
The names of the employees of Hogan Thrift Shop are listed on
the following payroll register. Employees are paid weekly. The
marital status and the number of allowances claimed are shown on
the payroll register, along with each employee's weekly salary,
which has remained the same all year. Complete the payroll register
for the payroll period ending December 21, the 51st weekly payday.
The state income tax rate is 2% of total earnings, the city income
tax rate is 1.5%...
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Amoroso, A. S 6 $1,610 weekly $ 2 Finley, R. M 2 825 biweekly 3 Gluck, E. M 1 9,630 quarterly 4 Quinn, S....
4-5A . LO 3 See Figure 1.9 on page 1-24, Example 4-3 on page 4-17 The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20-, the 51st weekly payday. The...