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Additional Medal Points It has been said before ... so how about one more time, practice, practice, practice . Determine the federal withholding for each
Additional Medal Points
It has been said before ... so how about one more time, practice, practice, practice. Determine the federal withholding for each employee.
Lucien Laurin earns $2,178 semimonthly. He claims 4 allowances and is married.
Employee: Laurin, Lucien | |
---|---|
Semimonthly Earnings | $2,178.00 |
Federal Income Tax Withholding: | $ |
Dale Earnhardt earns $2,282 monthly. He claims 2 allowances and is single.
Employee: Earnhardt, Dale | |
---|---|
Monthly Earnings | $2,282.00 |
Federal Income Tax Withholding: | $ |
Alex Rodriguez earns $6,370.00 semimonthly. Additional information necessary to determine Alex's tax withholding can be found on his attached W-4
Note: Enter ALL values as positive numbers.
Description | Calculation | |||
1. | Determine the amount of gross wages, rounded to the nearest dollar. | $ | ||
2. | Enter the value of the allowances based on the payroll period. | $ | ||
3. | Multiply the allowance value by the employee allowances claimed | () | ||
4. | Subtract allowances from gross pay, referred to as excess wages | $ | ||
5. | Identify the correct bracket. Wages starting at $ but not over $ | $ () | ||
6. | Determine the value over the starting wage for this bracket | $ | ||
7. | Multiply the overage by the tax rate in the table (enter as a decimal). | |||
$ | ||||
8. | Add the bracket minimum tax. | |||
9. | Add the two amounts together, total withholding for Alex Rodriguez. | $ |
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