A SIMPLE IRA is a retirement plan that may be established by employers, including self-employed individuals (sole proprietorships and partnerships). The SIMPLE IRA allows eligible employees to contribute part of their pretax compensation to the plan. This means the tax on the money is deferred until it is distributed." KIPLEY COMPANY, INC. SIMPLE Plan Contributions Name SIMPLE Deductions Carson, F. $20 Wilson, W. 50 Utley, H. 40 Fife, L. 50 Smith, L. 20 Fay, G. 40 Robey, G. 50 Schork, T. 60 Hardy, B. 30 Kipley, C. 80 Below lists each employee's assigned Time Card No., Filing Status, and withholding Allowances. This information is necessary when determining the amount of tax to withhold. Filing Time Card No. Employee Name No. of withholding Allowances Status 11 Fran M. Carson S 12 S N/A N/A N/A N/A 13 MF) MF) 21 22 S 31 William A. Wilson Harry T. Utley Lawrence R. Fife Lucy K. Smith Gretchen R. Fay Glenda B. Robey Thomas K. Schork Barbara T. Hardy Carson C. Kipley MF) 32 MF) N/A N/A N/A N/A N/A N/A 33 S 51 MF) ] MFJ 99 Payroll Register For this task, each employee's federal, state, and local taxes to be withheld will be determined. When determining the federal taxes to be withheld, remember that there are some deductions that are allowed "pretax". These deductions reduce the gross earnings upon which the federal tax to be with held is determined. Complete the steps outlined below. 1. Refer to the SIMPLE Plan Contributions and enter each employee's SIMPLE plan deduction. 2. Determine and record the federal income taxes for each employee. - Refer to each employee's filing status - Click the link below to view the Wage-Bracket Method tables 3. Determine and record the state income taxes for each employee using the State of Pennsylvania's rate of 3.07%. 4. Determine and record the city income taxes for the city of Pittsburgh at the rate is 3%. 5. Total each input column Note: Round your final answers to the cent. Enter all amounts as positive numbers. For Period Ending January 8, 20-- EARNINGS DEDUCTIONS Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Ded Grp. Ins. Carson, F. $700.00 $43.40 $10.15 $ 76 X$ 21.49 $ 21 $ 20.00 Wilson, W. 897.04 55.62 13.01 121 x 27.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 26 x 20.84 V 20.36 40.00 Fife, L. 877.10 54.38 12.72 29 X 26.93 26.31 I 50.00