Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Eaton Enterprises uses thewage-bracket methodto determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee.Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim calculations to two decimals and use in subsequent computations. Round final answer to two decimal places.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Percentage Method Tables for Income Tax Withholding (For Wages Paid in 2019) 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 $73 . . . . . . . . . Not over $227. SO Over- But not over- of excess over- Over- But not over- -$260 - -$73 $0.00 plus 10% of excess over- $73 $0.00 plus 10% $227 -$600 -$227 $260 -$832 2 . . $18.70 plus 12% -$260 $600 $1,745 $37.30 plus 12% -$600 $832 -$1,692 . . $87.34 plus 22% -$832 $1.745 -$3,465 $174.70 plus 22% -$1,745 $1.692 $3,164 . . $276.54 plus 24% $1,692 $3.465 $6,409 . . $553.10 plus 24% -$3,465 $3.164 $3,998 . . $629.82 plus 32% $3,164 $6.409 $1,259.66 plus 32% -$6,409 $3.998 $896.70 plus 35% $3,998 -$8.077 . . $8,077 -$12,003 . . $1,793.42 plus 35%% -$8,077 $9.887 $9,807 . . S $2.957.85 plus 37% -$9.887 $12.003 . $3.167.52 plus 37% -$12,003 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household)- [(b) MARRIED person- If the amount of wages The amount of income tax If the amount of wages after subtracting (after subtracting The amount of income tax withholding allowances) is: to withhold is: (withholding allowances)s: to withhold is: Not over $146.. . . . . . . . 50 Not over $454.. . . . . . . 4 SO Over- But not over- of excess over- Over- But not over- of excess over- $146 -$519 . . $0.00 plus 10% -$146 $454 $1,200 . . $0.00 plus 10% -$454 $519 -$1,664 . . $37.30 plus 12% -$519 $1,200 -$3,490 . . $74.60 plus 12% -$1,200 $1.664 -$3,385 . . $174.70 plus 22% $1.664 $3.490 $349.40 plus 22% -$3,490 $3.385 -$6,328 . . $553.32 plus 24% -$3.385 -$6.931 . . $6.931 -$12,817 . . $1,106.42 plus 24%% -$6,931 $6.328 -$7,996 . . $1,259.64 plus 32%% $6.328 $12.817 -$16,154 . . $2,519.06 plus 32%% -$12,817 $7,996 -$19,773 . , $1,793,40 plus 35% -$7.996 $16,154 -$24,006 . . $3,586.90 plus 35% -$16, 154 $19.773 $5,915.35 plus 37% -$19,773 $24,006 . $6.335.10 plus 37% -$24,006 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 $158 . . Not over $492 Over- But not over- of excess over- Over- But not over- of excess over- $158 -$563 $0.00 plus 10% -$158 $492 $1.300 $0.00 plus 10% -$492 $563 -$1,803 . . $40.50 plus 12% -$563 $1,300 $3,781 . . $80.80 plus 12% -$1,300 $1.803 -$3,667 $189.30 plus 22% $1,803 $3.781 -$7.508 $378.52 plus 22% -$3,781 $3,667 -$6,855 . , $599.38 plus 24% -$3,667 $7.508 -$13,885 . . $1,198,46 plus 24%% -$7,508 $6,855 -$8,663 . . $1,364.50 plus 327% -$6,855 $13,885 -$17,500 $2,728.94 plus 32% -$13,805 $8.663 -$21,421 . , $1,943.06 plus 35% -$8,663 $17.500 -$26,006 . . $3,885.74 plus 35% -$17,500 $21.421 $6.408.36 plus 37% -$21.421 $26.006 $6.862.84 plus 37% -$26,006 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages The amount of income tax If the amount of wages after subtracting (after subtracting The amount of income tax withholding allowances) is: 10 withhold is: withholding allowances) Is: to withhold Is: Not over $317 . . . . . . . .. Not over $983 . . . . . . . . . 90 Over- But not over- of excess over- Over- But not over- of excess over- $317 -$1, 125 . . $0.00 plus 10% -$317 $983 -$2,600 . . $0.00 plus 10% -$983 $1,125 -$3,606 $80.80 plus 12% -$1,125 $2.600 -$7.563 . . $161.70 plus 12% -$2,600 $3.606 -$7,333 . . $378.52 plus 22% -$3,606 $7.563 -$15,017 . . $757.26 plus 22% -$7,563 $7.333 -$13,710 . . $1,198.46 plus 24%% -$7.333 $15,017 -$27.771. $2,397.14 plus 24% -$15,017 $13,710 -$17,325 . . $2,728.94 plus 32%% $13,710 $27.771 $35,000. $5,458. 10 plus 32%% $27,771 $17.325 -$42,842 . , $3,885.74 plus 35% -$17,325 $35,000 -$52,013 . . $7,771.38 plus 35% $35,000 $42 842 . . . . . . . . . ... $12,816.69 plus 37% -$42,842 $52 013 . . . . . . $13.725.93 plus 37% $52,013TABLE 5-QUARTERLY 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 $950 Not over $2.950 . Over- But not over- of excess over- Over- But not over- of excess over- $950 -$3,375 . . . $0.00 plus 10% -$950 $2.950 -$7,800 $0.00 plus 10% -$2,950 $3,375 -$10,819 . . $242.50 plus 12%% $3.375 $7,800 -$22.688 $485.00 plus 12% -$7,800 $10,819 -$22,000 . . $1, 135.78 plus 22% $10.819 $22.688 -$45.050 $2,271.56 plus 22% -$22,688 $22,000 -$41,131 . . $3,595.60 plus 24%% -$22,000 $45.050 -$83,313 $7,191.20 plus 24% $45,050 $41, 131 $51,975 . . $8, 187 04 plus 32% $41.131 $83.313 $105,000 . . $16,374.32 plus 32% -$83,313 $51,975 $128,525 . . $11,657.12 plus 35% -$51,975 $105,000 -$156,038 . . $23,314.16 plus 35% -$105,000 $128,525 . $38,449.62 plus 37% $128 525 $156.038 . ... $41.177.46 plus 37% -$156,038 TABLE 6-SEMIANNUAL 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 latter subtracting The amount of income tax withholding allowances) is: to withhold : withholding allowances) is: to withhold is: Not over $1, 900 . . . . . . . . 90 Not over $5,900 . . . . . . 50 Over- But not over- of excess over- Over- But not over- of excess over- $1,900 $6.750 . . . $0.00 plus 10% $1.900 $5,900 $0.00 plus 10% $6,750 $21,638 . . $485.00 plus 12%% -$6,750 -$15,600 . . -$5,900 $15,600 -$45,375 . . $970.00 plus 12% -$15,600 $21,638 -$44,000 . . $2,271 56 plus 22% $21,638 $45,375 -$90,100 $4,543.00 plus 22% -$45,375 $44,000 -$82,263 $90,100 -$166.625 . -$90, 100 $82,263 3 . . $7,191 20 plus 24% $44.000 -$210,000 . . $14,382.50 plus 24% -$103,950 $16,374.32 plus 32% -$82 263 $166,625 $32,748.50 plus 32% -$166,625 $103,950 -$257,050 . . $23,314.16 plus 35% -$103.950 $210,000 -$312.075 5 . . $46,628.50 plus 35% -$210,000 $257,050. $76,899.16 plus 37% $257.050 $312.075 . . . . . . $82.354.75 plus 37% -$312,075 TABLE 7-ANNUAL 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 $3,800 . . 30 Not over $11,800 Over- But not over- of excess over- Over- But not over of excess over- $3,800 $13,500 . . $0.00 plus 10% -$3,800 $11,800 -$31,200 $0.00 plus 10% -$11,800 $13,500 $43,275 . . $970.00 plus 12% -$13,500 $31,200 -$90.750 . . $1,940.00 plus 12%% $31,200 $43,275 -$88,000 . . $4,543.00 plus 22% -$43,275 $90,750 $180.200 . . $9.086.00 plus 22% -$90,750 $88,000 $164,525 $14,382 50 plus 24% -$88,000 $180,200 -$333.250 $28,765.00 plus 24% -$180,200 $164,525 $207,900 . . $32,748.50 plus 32% -$164.525 $333.250 -$420.000 $65,497.00 plus 32% $333,250 $207,800 -$514,100 . . $46,628.50 plus 35% -$207.900 $420,000 -$624.150 . . $93,257.00 plus 35% $420,000 $514,100 . $153,798.50 plus 37% -$514.100 $624.150 . . $164 709.50 plus 37% $624, 150 TABLE 8-DAILY or MISCELLANEOUS Payroll Period (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting (after subtracting withholding allowances) withholding allowances) divided by the number of The amount of income tax divided by the number of The amount of income tax days in the payroll period is: to withhold per day is: days in the payroll period is: to withhold per day is: Not over $14.60 . . . . . . . . Not over $45.40 . . . . . . . SO Over- But not over- of excess over- Over- But not over- of excess over- $14.60 -$51.90 . . $0.00 plus 10% -$14.60 $45.40 $120.00 . . $0.00 plus 10% -$45.40 $51.90 $106.40 . . $3.73 plus 12% -$51.90 -$349.00 . . $7.46 plus 12% $166.40 $338.50 . . $17.47 plus 22% -$166.40 $120.00 -$120.00 $349.00 -$693.10 . . $34.94 plus 22% -$349.00 $338.50 $632.80 . . $55.33 plus 24% -$338 50 $693.10 -$693. 10 $632.80 -$799.60 . . $125.96 plus 32%% $632 80 $1,281.70 -$1,281.70 . . $110.64 plus 24% -$1,615.40 . . $251.90 plus 32% -$1,281.70 $799.60 -$1,977.30 . . $179.34 plus 35% -$799.60 $1.615.40 -$1,977.30 $2,400.60 . . .. -$2,400.60 . . $358.68 plus 35% -$1,615.40 $1,977.30 . . . . . . . . . . $591.54 plus 37% $633.50 plus 37% $2,400.60WAGE BRACKET METHOD TABLES FOR INCOME TAX WITHHOLDING SINGLE Persons-WEEKLY Payroll Period SINGLE Persons -WEEKLY Payroll Period For Wages Paid through December 2019) For Wages Paid through December 2019) And the wages are- And the number of withholding allowances claimed is- And the wages are- And the number of withholding allowances claimed is- 0 1 2 3 4 5 6 7 8 9 10 At least But less 0 than 1 2 3 5 6 7 8 9 10 At least But less than The amount of income tax to be withheld is- The amount of income tax to be withheld is- 95 106 117 128 D oooo8 oooo8 $0 $0 843 854 865 876 876 887 2 88828 128 898 909 909 101 139 150 WEEKLY SINGLE 920 105 150 161 161 172 PERSONS 931 183 183 942 8898 83888 2898% 997 ,008 1,030 ,041 1,052 ,063 293 8829 89288 98989 80848 8482 326 ,107 129 109 337 , 107 ,118 131 140 136 392 162 139 392 403 82898 23808 73889 82898 88838 89884 82868 88882 89884 808RN BEGG Ed do aVous 2896 GREG $6828 88889 89828 98: MORE8 89828 88838 87898 64828 86888 82848 NON8 88882 89884 84838 68482 82884 84880 8ENGE UNDER THEON BOOON DAWN- OOOOO 4268 98889 88888 82898 83828 72888 82898 84848 79864 61828 89888 89889 WOUND 425 425 436 148 28828 89858 88388 addy8 89888 89884 84898 84806 82684 82898 BOWGN NNBG4 6010N 18988 88989 88828 82408 2ROSE $8988 89888 88828 98:48 NUN38 88828 98848 88398 28989 268 89%% TUBE2 28908 8NORD 6 068 28988 89898 2898: SENON 28898 28889 447 89828 88BBB GERNS GREGE GNE6. VOUAD N-OOO OOOOO OOooo ooooo ooooo ooooo ooooo ooo.8] 153 98288 98898 48986 48468 26848 20686 BOGEN NEGNG GAGNE BONOM AWN-O OOOOO OOOOO OOOOO 98289 80388 0N288 98288 89889 83498 48284 88898 28098 NEWER NOONE WEUNG DONYOU AWN-S 458 469 469 ,228 238 155 158 SENDR 28888 28988 48983 98848 28438 988808 28848 BONDS NGAG KEBOG NOOWN -OOO 180 491 491 502 261 1 80 502 HooNo usON- Ooooo ooooo ooooo ooooo oooo ooooo ooooo ooooo ooooo oo SO JOK WN360 0400. N-OOO Ooooo ooooo ooooo ooooo ooooo ooooo ooooo oo 546 8 88 8 557 193 195 175 568 568 579 197 590 301 601 612 207 187 189 645 656 404 197 667 426 199 1,437 201 184 CENTS 8 82988 28898 89898 80N8 28898 98898 89848 98648 GAR28 667 186 589 700 709 459 222 470 224 206 189 722 209 191 193 733 1,492 231 196 514 234 536 1,547 243 BARNN NN 198 799 810 1,547 and over Use Table 1(a) for a SINGLE person. 821Payroll Period W = Weekly No. of S = Semimonthly Marital Withholding M = Monthly Amount to Be Employee Status Allowances D = Daily Wage Withheld Hal Bower M W $1,350 118 Ruth Cramden S 2 W 590 Gil Jones S 3 W 675 39 Teresa Kern M 6 M 3,100 Ruby Long M 2 M 2,730 105 Katie Luis M 8 S 955 0 Susan Martin M 1 D 108 9 X Jim Singer S 4 S 2,610 212.84 Martin Torres M M 3,215Table of Allowance Values for 2019 Weekly 80.80 Biweekly 161.50 Semimonthly 175.00 Monthly 350.00 Quarterly 1,050.00 Semiannual 2,100.00 Annual 4,200.00 Daily/Misc. 16.20

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds

6th Edition

78110890, 978-0078110894

More Books

Students also viewed these Accounting questions

Question

What are the assumptions required of a multiple regression model?

Answered: 1 week ago

Question

3. What is my goal?

Answered: 1 week ago

Question

2. I try to be as logical as possible

Answered: 1 week ago