Question
Ernesto Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid to
Ernesto Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid to each employee. If an amount is zero, enter "0". Enter all amounts as positive numbers.
As we go to press, the federal income tax rates for 2023 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2022 federal income tax tables for Manual Systems with Forms W-4 from 2020 or Later with Standard Withholding and 2022 FICA rates have been used.
Employee | Filing Status | No. of Withholding Allowances | Payroll Period W = Weekly S = Semimonthly M = Monthly D = Daily | Wage | Amount to Be Withheld |
Lily Troon | MFJ | N/A | W | $1,250 | $fill in the blank 1 |
Barry Ortega | S | N/A | W | 695 | fill in the blank 2 |
Pat Lopez | S | N/A | W | 915 | fill in the blank 3 |
Rex Kim | MFJ | N/A | M | 3,070 | fill in the blank 4 |
Ruth Horace | MFJ | N/A | M | 2,730 | fill in the blank 5 |
Mike Gleam | MFJ | N/A | S | 1,200 | fill in the blank 6 |
Tom Abreu | S | N/A | D | 115 | fill in the blank 7 |
Holly Sanchez | S | N/A | S | 2,040 | fill in the blank 8 |
Kathy Nee | MFJ | N/A | M | 3,500 | fill in the blank 9 |
Use Wage-Bracket Tables to calculate federal income taxes; use Percentage Method if unable to use Wage-Bracket method.
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