Question
25) Note: Use the Tax Tables to calculate the answers to the problems listed. Carson Smart (married filing jointly) is paid $1,200 every two weeks
25) Note: Use the Tax Tables to calculate the answers to the problems listed.
Carson Smart (married filing jointly) is paid $1,200 every two weeks plus a taxable lodging allowance of $100. He is a participant in the company 401(k) plan and has $150 deducted from his pay for his contribution to the plan. How much would be deducted from his pay for federal income tax (using the wage-bracket table)? $_______
23)Note: Use the Tax Tables to calculate the answers to the problems listed.
Mary Matthews made $1,150 during a biweekly pay period only social security (fully taxable) and federal income taxes attach to her pay. Matthews contributes $100 each biweekly pay to her company's 401k. Determine Matthews take home pay if she is married filing jointly. (Use Wage Bracket Method) Round your answer to two decimal place. $________
21)Note: Use the Tax Tables can be used to calculate the answers to the problems listed.
Edward Dorsey is a part-time employee, and during the biweekly pay period he earned $395. In addition, he is being paid a bonus of $300 along with his regular pay. If Dorsey is single, how much would be deducted from his pay for FIT, based on the two methods outlined below?
Hint: There are two ways to determine the deduction. Do NOT use the table for the percentage method.
a. | Wage-bracket table | $ |
b. | Percentage method | $ |
21)
Note: Use the Tax Tables to calculate the answers to the problems listed.
Determine the income tax to withhold from the biweekly wages of the following employees (wage-bracket):
Karen Overton (single), $900 wages | $ |
Nancy Haller (married filing jointly), $1,000 wages | $ |
Alan Glasgow (married filing jointly), $980 wages | $ |
Joseph Kerr (single), $720 wages | $ |
Ginni Lorenz (single), $580 wages | $ |
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