Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Andie earned $800.00 during the most recent weekly pay period. She is married filing separately, has indicated Step 2 checkbox withholding on her 2021 Form
Andie earned $800.00 during the most recent weekly pay period. She is married filing separately, has indicated Step 2 checkbox withholding on her 2021 Form W-4, and needs to decide between contributing 2.5% and $30 to her 401(k) plan. If she chooses the method that results in the lowest taxable income, how much will be withheld for Federal income tax (based on the following table)? (Use the wage-bracket table.)
2021 Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later | |||||||
WEEKLY Payroll Period | |||||||
If the Adjusted Wage Amount (line 1h) is | Married Filing Jointly | Head of Household | Single or Married Filing Separately | ||||
---|---|---|---|---|---|---|---|
At least | But less than | Standard withholding | Form W-4, Step 2, Checkbox withholding | Standard withholding | Form W-4, Step 2, Checkbox withholding | Standard withholding | Form W-4, Step 2, Checkbox withholding |
The Tentative Withholding Amount is: | |||||||
$ 645 | $ 655 | $ 17 | $ 45 | $ 29 | $ 54 | $ 45 | $ 76 |
$ 655 | $ 665 | $ 18 | $ 46 | $ 30 | $ 55 | $ 46 | $ 78 |
$ 665 | $ 675 | $ 19 | $ 48 | $ 32 | $ 56 | $ 48 | $ 80 |
$ 675 | $ 685 | $ 20 | $ 49 | $ 33 | $ 57 | $ 49 | $ 82 |
$ 685 | $ 695 | $ 21 | $ 50 | $ 34 | $ 58 | $ 50 | $ 84 |
$ 695 | $ 705 | $ 22 | $ 51 | $ 35 | $ 60 | $ 51 | $ 87 |
$ 705 | $ 715 | $ 23 | $ 52 | $ 36 | $ 62 | $ 52 | $ 89 |
$ 715 | $ 725 | $ 24 | $ 54 | $ 38 | $ 64 | $ 54 | $ 91 |
$ 725 | $ 735 | $ 25 | $ 55 | $ 39 | $ 66 | $ 55 | $ 93 |
$ 735 | $ 745 | $ 26 | $ 56 | $ 40 | $ 68 | $ 56 | $ 95 |
$ 745 | $ 755 | $ 27 | $ 57 | $ 41 | $ 70 | $ 57 | $ 98 |
$ 755 | $ 765 | $ 28 | $ 58 | $ 42 | $ 73 | $ 58 | $ 100 |
$ 765 | $ 775 | $ 29 | $ 60 | $ 44 | $ 75 | $ 60 | $ 102 |
$ 775 | $ 785 | $ 30 | $ 61 | $ 45 | $ 77 | $ 61 | $ 104 |
$ 785 | $ 795 | $ 31 | $ 62 | $ 46 | $ 79 | $ 62 | $ 106 |
$ 795 | $ 805 | $ 32 | $ 63 | $ 47 | $ 81 | $ 63 | $ 109 |
$ 805 | $ 815 | $ 33 | $ 64 | $ 48 | $ 84 | $ 64 | $ 111 |
$ 815 | $ 825 | $ 34 | $ 66 | $ 50 | $ 86 | $ 66 | $ 113 |
$ 825 | $ 835 | $ 35 | $ 67 | $ 51 | $ 88 | $ 67 | $ 115 |
$ 835 | $ 845 | $ 36 | $ 68 | $ 52 | $ 90 | $ 68 | $ 117 |
$ 845 | $ 855 | $ 37 | $ 69 | $ 53 | $ 92 | $ 69 | $ 120 |
$ 855 | $ 865 | $ 38 | $ 70 | $ 54 | $ 95 | $ 70 | $ 122 |
$ 865 | $ 875 | $ 39 | $ 72 | $ 56 | $ 97 | $ 72 | $ 124 |
$ 875 | $ 885 | $ 40 | $ 73 | $ 57 | $ 99 | $ 73 | $ 126 |
$ 885 | $ 895 | $ 41 | $ 74 | $ 58 | $ 101 | $ 74 | $ 128 |
$ 895 | $ 905 | $ 42 | $ 75 | $ 59 | $ 103 | $ 75 | $ 131 |
$ 905 | $ 915 | $ 44 | $ 76 | $ 60 | $ 106 | $ 76 | $ 133 |
$ 915 | $ 925 | $ 45 | $ 78 | $ 62 | $ 108 | $ 78 | $ 135 |
$ 925 | $ 935 | $ 46 | $ 79 | $ 63 | $ 110 | $ 79 | $ 137 |
$ 935 | $ 945 | $ 47 | $ 80 | $ 64 | $ 112 | $ 80 | $ 139 |
$ 945 | $ 955 | $ 48 | $ 81 | $ 65 | $ 114 | $ 81 | $ 142 |
$ 955 | $ 965 | $ 50 | $ 82 | $ 66 | $ 117 | $ 82 | $ 144 |
$ 965 | $ 975 | $ 51 | $ 84 | $ 68 | $ 119 | $ 84 | $ 146 |
$ 975 | $ 985 | $ 52 | $ 85 | $ 69 | $ 121 | $ 85 | $ 149 |
$ 985 | $ 995 | $ 53 | $ 86 | $ 70 | $ 123 | $ 86 | $ 151 |
$ 995 | $ 1,005 | $ 54 | $ 87 | $ 71 | $ 125 | $ 87 | $ 154 |
$ 1,005 | $ 1,015 | $ 56 | $ 88 | $ 72 | $ 128 | $ 88 | $ 156 |
$ 1,015 | $ 1,025 | $ 57 | $ 90 | $ 74 | $ 130 | $ 90 | $ 158 |
$ 1,025 | $ 1,035 | $ 58 | $ 92 | $ 75 | $ 132 | $ 92 | $ 161 |
$ 1,035 | $ 1,045 | $ 59 | $ 94 | $ 76 | $ 135 | $ 94 | $ 163 |
$ 1,045 | $ 1,055 | $ 60 | $ 96 | $ 77 | $ 137 | $ 96 | $ 166 |
Multiple Choice:
a. $60.00
b. $106.00
c. $102.00
d. $61.00
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