Question
1: Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $855. For each period, he makes a 403(b) retirement plan contribution of
1: Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $855. For each period, he makes a 403(b) retirement plan contribution of 12% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $
2: Carol Harrison (single; 0 federal withholding allowance) earned daily gross pay of $220. For each period, she makes a 401(k) contribution of 12.5% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $
3: John Moyer (married; 6 federal withholding allowances) earned monthly gross pay of $4,150. He participates in a flexible spending account, to which he contributes $265 during the period. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $
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