Question

How do you find the federal income tax deduction? I’ve looked up this question to see but each question i’ve found is answered differently.

The payroll records of Speedy Software show the following information about Marsha Gottschalk, an employee, for the weekly pay period ending September 30, 2017. Gottschalk is single and claims one allowance. Compute her Social Security tax (6.2 %) , Medicare tax (1.45%), federal income tax withholding, state income tax (1.0 %), and net pay for the current pay period. (Use the withholding table in Exhibit 11A.6) (Round your final answers to 2 decimal places.) Total (gross) earnings for current pay period Cumulative earnings of previous pay periods 600 $7,800 Gross pay 600.00 Social security tax deduction $37.20 8.70 Medicare tax deduction Federal income tax deduction State income tax deduction 6.00 Total deductions 51.90 Net pay 548.10

Answer 1

|Gross Pay Social Security Tax Deduction (S600*6.2/100)S37.20 $600 Medicare Tax Deduction ($600*1.45/100) Federal Income Tax Deduction (Range between $8.70 |$600 to $610 of Gross Pay, the Federal Tax Deduction as per Exhibit 11A.6 is S67 $67 $6.00 State income tax deduction (S600*1.0/100) Total Deductions Net Pay (S118.90) $481

Exhibit 11A.6 from Book: The federal income tax deduction to be considered for the gross pay of $600 is highlighted in the below screen shot.

SINGLE Persons-WEE KLY Payroll Period If the wages are- And the number of withholding allowances claimed is- 4 10 1 3 6 7 But less At least than The amount f income taxt be withheld is- $600 $610 $76 $39 520 610 c20 650 640 ON Q0D 00 8 85188 5388