Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Adele Martins weekly gross earnings for the present week were $5,000. Martins has two exemptions. Using an $80 value for each exemption and the tax
Adele Martins weekly gross earnings for the present week were $5,000. Martins has two exemptions. Using an $80 value for each exemption and the tax rate schedule below, what is Martins federal income tax withholding?
******Please use the table below to answer this question :)
Total wage payment | ||
Allowance per exemption | ||
x (multiplied) by allowances claimed on form W-4 | ||
Amount subject to withholding | ||
Base withholding from wage bracket above | ||
Plus additional withholding | ||
Federal income tax withholding |
Single person (including head of household) If amount of wages (after subtracting The amount of income tax withholding allowance) is: withholding is: Not over $43 $0 Over- $43 $222 $767 $1,796 $3,700 $7,992 $8,025 But not over- -$222.......$0.00 plus 10% -$767......$17.90 plus 15% -$1,796...$99.65 plus 25% -$3,700...$356.90 plus 28% -$7,992.$890.02 plus 33% -$8,025....$2,306.38 plus 35% .................$2,317.93 plus 39.6% of excess over- -$43 -$222 -$767 -$1,796 -$3,700 $7,992 -$8,025
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started