Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $13,200. He is single and claims 1 deduction.
Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $13,200. He is single and claims 1 deduction. Before this payroll, Barretts cumulative earnings were $128,110. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method. (Use Table 9.1 and Table 9.2) (Round your answers to 2 decimal places.)
TABLE 9.2 Percentage method income tax withholding schedules Percentage Method Tables for Income Tax Withholding (For Wages Paid in 2018) TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $71 SO Not over $222 $0 Over But not over- of excess over-Over But not over- ol excess over- $71 $254.. $0.00 plus 10% $71 $222 -$588. . $0.00 plus 10% -$222 $254 $815 $18.30 plus 12. -$254 $588 $1,711 .. $36.60 plus 12% -$588 S815 $1,653 $85.62 plus 22% $815 $1,711 $3,395 $171.36 plus 22% -$1,711 $1,650 $3,100 $271.08 plus 24% -$1,658 $4,395 - $6,280 $541.84 plus 24% -33,395 $3,100 -$3,917 $617.16 plus 32% -$3,100 $6,280 -$7,914 $1,234.24 plus 32% -S6,280 $3,917 -$9,687 $878.60 plus 35% -$3,917 $7,914 -$11,761 $1,757.12 plus 35% -$7,914 $9.687 .... $2.898.10 plus 37% --$ 59,687 $11,761 ... $ $3, 103.57 plus 37% -$11,761 TABLE 2-BIWEEKLY Payroll Period ..... So (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $142 SO Nol over $444 $ Over But not over- of excess over-Over But not over- of excess over- $142 -$509 $0.00 plus 10% -$142 $444 -$1,177 .. $0.00 plus 10% -$444 $509 -$1,631 836.70 plus 12% -$509 $1,177 -$3,421 $73.30 plus 12% -$1,177 $1,631 -$3,315 $171.34 plus 22% -$1.631 $3,421 -$6,790 $342.58 plus 22% -S3,421 $3,315 -$5,200 $541.82 plus 24% -$3,315 $6,790 -$12,560 $1,083.76 plus 24% -S6,790 S6.200 -S7.835 $1.234.22 plus 32% -S6.200 $12.560 --$15.829 $2.468.56 plus 32% -$12.560 $7,835 -$19,373. $1.757.42 plus 35% -S7835 $15,829 -$23,521 $3.514.64 plus 35% -$15.829 $19.373 ...... $5.795.72 plus 37% -$19.373 $23,521 ........... $6.206.84 plus 37% --$23,521 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages if the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is to withhold is: Not over $142 SO Nol over $444 SO Over But not over- of excess over-Over But not over of excess over- $142 -$500. $0.00 plus 10% - $142 $444 -$1.177. $0.00 plus 10% -$444 $509 -S1,631.. $36.70 plus 12% -$509 $1,177 -$3,421 $73.30 plus 12% $1,177 $1,631 -$3,315 $171.34 plus 22% -$1,631 $3,421 - $6,790 $342.58 plus 22% -S3.421 $3,315 $5,200 $541.82 plus 24% -$3,315 $6,790 -$12,560 $1,083.76 plus 24% -$6,790 S6.200 -S7.835 51.234 22 plus 32% -S6200 S12.560 -S15.829 $2.468.56 plus 32% -$12.560 $7,835 ---$19,373 $1.757.42 plus 35% -$7,835 $15,829 - -$23,521 $3,514.64 plus 35% -$15.829 $19.373 $5.795.72 plus 37% -$19.373 $23,521 $6,206.84 plus 37% -$23,521 TABLE 3-SEMIMONTHLY Payroll Period ... (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $154 ... SO Not over $481 SO Over But not over- of excess over-Over- But not over- of excess over $154 -$651 S000 plis 10% -$154 $481 -$1.975 $0.00 plus 10% -$481 $551 -$1,767 $39.70 plus 12 -$551 -$3,706 $79.40 plus 12% -$1,275 $1,767 -$3,592 $185.62 plus 22% -$1.767 $3,706 -$7,356 $371.12 plus 22% -$3,706 $3,592 -$8,717 $587.12 plus 24% -$3,592 $7,356 -$13,606 $1,174.12 plus 24% -$7.356 $6,717 -$9.488 $1,337.12 plus 32% -$6,717 $13,606 -$17.148 $2,674.12 plus 32% -$13,608 $8,488 $20,983 $1,903.84 plus 35% $8,488 $17,148 $25,481 .. $3,807.56 plus 35% -$17,148 $20,988 $ $6,278.84 plus 37% $20.988 $25,481 ..... $6.724.11 plus 3776 -565,401 TABLE 4-MONTHLY Payroll Period $1,275 (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wagos (after oubtracting The amount of income tax (aftoroubtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $308 ...... SO Not over $063 ...... $0 Over But not over- of excess over-Over- But not over- of excess over- $308 -$1,102 50.00 plus 10% -$308 $963 -$2,550 .. $0.00 plus 10% -$963 $1,102 - $3,533 .. $79.40 plus 12% -$1.102 $2,550 -$7,413 .. $158.70 plus 12% -$2,550 $3,533 -57,183 .. $371.12 plus 22% -$3.533 $7,413 -$14,713 .. $742.26 plus 22% -$7,413 $7,183 -$13,433 . $1.174.12 plus 24% -$7.183 $14,713 -$27.213. $2,348.26 plus 24% -$14,713 $13,433 -$16.975 .. $2,674.12 plus 32% -$13.433 $27,213 -$34.296 $5,348.26 plus 32% -$27.213 $16,975 -$41,975 $3,807,56 plus 35% - -$16.975 $34,296 -$50,963 $7,614.82 plus 35% -$34.296 $41,975.......... $12,557.56 plus 37% - -$41,975 $50,963........$13,448.27 plus 37% -$50,963 0 Source: Internal Revenue Service
