Lisa earns $47,840 per year. She is married and claims three allowances. Assume that her employer uses WAGE BRACKET TABLES METHOD. Use withholding allowance, WAGE BRACKET TABLE and IRS Publication 15.
a. If she is paid weekly, what is her withholding per paycheck?
b. If she is paid monthly, what is her withholding per paycheck?
c. If she is paid biweekly, what is her withholding per paycheck?
d. If she is paid semimonthly, what is her withholding per paycheck?
(I tried the steps in the text, answer for a. I got 70, but it's incorrect. Please help)
Homework Answers
| Salary | Hint | |||||
| Annual salary | $ 47,840.00 | |||||
| Weekly salary | 920.00 | (47840/52) | ||||
| Monthly salary | 3,986.67 | (47840/12) | ||||
| biweekly salary | 1,840.00 | (47840/26) | ||||
| Semimonthly salary | 1,993.33 | (47840/24) | ||||
| Note; since employer is using wage bracket method so there is no need | ||||||
| to separately calculate withholding allowance , we have to just check the row | ||||||
| with the range of salary, and column having allowance value 3 | ||||||
| Special Note: And also note use only married person table, not single, since you have used single person table its value is coming to 70 | ||||||
| So using the wage bracket table for 2018, | ||||||
| Withholding per check | ||||||
| Weekly salary | $48 | |||||
| Monthly salary | 205 | |||||
| biweekly salary | 95 | |||||
| Semimonthly salary | 104 | |||||
Add Answer to:
Lisa earns $47,840 per year. She is married and claims three
allowances. Assume that her employer...
Lisa earns $59,280 per year. She is married and claims three allowances. Assume that her employer...
Lisa earns $59,280 per year. She is married and claims three
allowances. Assume that her employer uses wage bracket tables
method. Use withholding
allowance, wage bracket
table and IRS Publication
15.
RM a cia S unee dilowances. ASSume that her emplover uses wage bracket tables method. Use withholding allowance, wage bracket table and IRS Publication 15 a. If she is paid weekly, what is her withholding per paycheck? b. If she is paid monthly, what is her withholding per paycheck?...
Check my work Lisa earns $46,800 per year. She is married and claims three allowances. Assume...
Check my work Lisa earns $46,800 per year. She is married and claims three allowances. Assume that her employer uses wage bracket tables method. Use withholding allowance, wage bracket table and IRS Publication 15. a. If she is paid weekly, what is her withholding per paycheck? b. If she is paid monthly, what is her withholding per paycheck? c. If she is paid biweekly, what is her withholding per paycheck? d. If she is paid semimonthly, what is her withholding...
Problem 9-3 Withholding Methods (LO 9.1) Sophie is a single taxpayer. For the first payroll period...
Problem 9-3 Withholding Methods (LO 9.1) Sophie is a single taxpayer. For the first payroll period in July 2018, she is paid wages of $3,900 monthly. Sophie claims one allowance on her Form W-4. Click here to access the withholding tables. Table for Allowances Amount per Circular E. Payperiod 2018 Allowance Amount Weekly $ 79.80 Biweekly 159.60 Semimonthly 172.90 Monthly 345.80 Quarterly 1,037.50 Semiannually 2,075.00 Annually 4,150.00 Round intermediate computations and your final answer to two decimal places. a. Use...
Henry, who earned $114180 during 2018, is paid on a monthly basis, is married, and claims...
Henry, who earned $114180 during 2018, is paid on a monthly basis, is married, and claims four allowances. Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method tables .. What is Henry's federal tax withholding for each pay period? b. What is Henry's FICA withholding for each pay period? (For all requirements, round your intermediate computations and final answers to 2 decimal places.) Federal tax withholdings Total FICA withholding Derences Lisa earns $63,440...
Martin is married and claims four exemptions on his W-4. What is his federal income tax...
Martin is married and claims four exemptions on his W-4. What is his federal income tax withholding under the following condition Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method table d. Martin is paid semimonthly, and his gross pay is $2,600 per paycheck. b. Martin is paid monthly, and his gross pay is $4,900 per paycheck. c. Martin is paid weekly, and his gross pay is $3,100 per paycheck. (For all requirements,...
Drill Problem 9-18 (Static) (LU 9-2 (1)] Assume a tax rate of 6.2% on $128.400 for...
Drill Problem 9-18 (Static) (LU 9-2 (1)] Assume a tax rate of 6.2% on $128.400 for Social Security and 145% for Medicare. No one will reach the maximum for FICA Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 91 and Table 9.2) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) FICA Employee Marital status Allowances claimed Gross pay FIT Med. Net pay Pat Brown 4...
Barbara Brach earns $368.00 per week. She is married and claims 2 allowances. Her state tax...
Barbara Brach earns $368.00 per week. She is married and claims 2 allowances. Her state tax rate is 2.8 percent and her local tax rate is 1.25 percent, both on gross earnings. Her medical insurance plan costs $7,780.00 per year, of which the company pays 80 percent. Medicare (1.45%) and Social Security (6.2%) are also deducted from her paycheck. What is her net pay?
Barbara Brach earns $368.00 per week. She is married and claims 2 allowances. Her state tax...
Barbara Brach earns $368.00 per week. She is married and claims 2 allowances. Her state tax rate is 2.8 percent and her local tax rate is 1.25 percent, both on gross earnings. Her medical insurance plan costs $7,780.00 per year, of which the company pays 80 percent. Medicare (1.45%) and Social Security (6.2%) are also deducted from her paycheck. What is her net pay? a $236.20 b $367.73 c $263.02 d $104.98
Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami...
Rhonda Brennan found her first job after graduating from college
through the classifieds of the Miami Herald. She was delighted when
the offer came through at $14.70 per hour. She completed her W-4
stating that she is married with a child and claims an allowance of
3. Her company will pay her biweekly for 80 hours (assume a tax
rate of 6.2% on $128,400 for Social Security and 1.45% for
Medicare). Calculate her take-home pay for her first check. (Use...
Lisa earns $59,280 per year. She is married and claims three
allowances. Assume that her employer uses wage bracket tables
method. Use withholding
allowance, wage bracket
table and IRS Publication
15.
RM a cia S unee dilowances. ASSume that her emplover uses wage bracket tables method. Use withholding allowance, wage bracket table and IRS Publication 15 a. If she is paid weekly, what is her withholding per paycheck? b. If she is paid monthly, what is her withholding per paycheck?...
Check my work Lisa earns $46,800 per year. She is married and claims three allowances. Assume that her employer uses wage bracket tables method. Use withholding allowance, wage bracket table and IRS Publication 15. a. If she is paid weekly, what is her withholding per paycheck? b. If she is paid monthly, what is her withholding per paycheck? c. If she is paid biweekly, what is her withholding per paycheck? d. If she is paid semimonthly, what is her withholding...
Henry, who earned $114180 during 2018, is paid on a monthly basis, is married, and claims four allowances. Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method tables .. What is Henry's federal tax withholding for each pay period? b. What is Henry's FICA withholding for each pay period? (For all requirements, round your intermediate computations and final answers to 2 decimal places.) Federal tax withholdings Total FICA withholding Derences Lisa earns $63,440...
Martin is married and claims four exemptions on his W-4. What is his federal income tax withholding under the following condition Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method table d. Martin is paid semimonthly, and his gross pay is $2,600 per paycheck. b. Martin is paid monthly, and his gross pay is $4,900 per paycheck. c. Martin is paid weekly, and his gross pay is $3,100 per paycheck. (For all requirements,...
Drill Problem 9-18 (Static) (LU 9-2 (1)] Assume a tax rate of 6.2% on $128.400 for Social Security and 145% for Medicare. No one will reach the maximum for FICA Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 91 and Table 9.2) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) FICA Employee Marital status Allowances claimed Gross pay FIT Med. Net pay Pat Brown 4...
Rhonda Brennan found her first job after graduating from college
through the classifieds of the Miami Herald. She was delighted when
the offer came through at $14.70 per hour. She completed her W-4
stating that she is married with a child and claims an allowance of
3. Her company will pay her biweekly for 80 hours (assume a tax
rate of 6.2% on $128,400 for Social Security and 1.45% for
Medicare). Calculate her take-home pay for her first check. (Use...
Most questions answered within 3 hours.
-
Suppose that XX is a random variable with mean 16 and standard
deviation 5 . Also...
asked 31 minutes ago -
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 3 hours ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 3 hours ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 4 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 5 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 6 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 6 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 7 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 7 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 7 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 8 hours ago -
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 8 hours ago