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Damerly Company (a California employer) wants to give a holiday bonus check of $245 to each employee. Since it wants the check amount to be
Damerly Company (a California employer) wants to give a holiday bonus check of $245 to each employee. Since it wants the check amount to be $245, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910 Besides being subject to social security taxes and federal income tax (supplemental rate), a 7% California income tax must be withheld on supplemental payments. Enter all deductions as negative amounts. Round your calculations and final answers to the nearest cent. Gross bonus amount Federal income tax withheld OASDI tax withheld HI tax withheld California income tax withheld Take-home bonus check
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