Bonus Method of Income Taxes Complete the net bonus pay calculation for C. Kramer given the information provided: He has already received his regular pay of $1,850.00 for pay period #14 and will be receiving his bonus as a separate cheque. Pay Frequency: Bi-weekly Federal and Manitoba tax claim codes are both 2. The employer makes CPP and El remittances at the standard rates. His bonus is $3,500.00 Employee Accumulated Accumulated CPP C. Kramer 1,232.28 | 505.05 CPP Contributions = El Premiums Federal Income Taxes = Manitoba Income Taxes = Accumulated CPP Accumulated El Employer CPP Employer El Bonus Tax Calculations (optional but part marks may be granted) Value of Bonus Pay Frequency Bonus/frequency Regular pay per pay period = Regular pay + Bonus = Federal Income Tax Calculations Taxes on: Regular + Bonus = Taxes on: Regular pay = Difference Pay Frequency (Multiplier) = Income tax on bonus = Provincial Income Tax Calculations Taxes on: Regular + Bonus = Taxes on: Regular pay = Difference Pay Frequency (Multiplier) = Income tax on bonus Bonus Method of Income Taxes Complete the net bonus pay calculation for C. Kramer given the information provided: He has already received his regular pay of $1,850.00 for pay period #14 and will be receiving his bonus as a separate cheque. Pay Frequency: Bi-weekly Federal and Manitoba tax claim codes are both 2. The employer makes CPP and El remittances at the standard rates. His bonus is $3,500.00 Employee Accumulated Accumulated CPP C. Kramer 1,232.28 | 505.05 CPP Contributions = El Premiums Federal Income Taxes = Manitoba Income Taxes = Accumulated CPP Accumulated El Employer CPP Employer El Bonus Tax Calculations (optional but part marks may be granted) Value of Bonus Pay Frequency Bonus/frequency Regular pay per pay period = Regular pay + Bonus = Federal Income Tax Calculations Taxes on: Regular + Bonus = Taxes on: Regular pay = Difference Pay Frequency (Multiplier) = Income tax on bonus = Provincial Income Tax Calculations Taxes on: Regular + Bonus = Taxes on: Regular pay = Difference Pay Frequency (Multiplier) = Income tax on bonus