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For each employee listed, use both the wage - bracket method and the percentage method to calculate federal income tax withholding for an employee who
For each employee listed, use both the wagebracket method and the percentage method to calculate federal income tax withholding for an employee who has submitted a pre Form W Refer to Publication T
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
: Warren Cavanagh single; federal withholding allowances earned weekly gross pay of $ For each period, he makes a retirement plan contribution of of gross pay.
Using wagebracket method: Federal income tax witholding $
Using percentage method: Federal income tax withholding $
: Stacey Vaughn married; federal withholding allowances earned daily gross pay of $ For each period, she makes a contribution of of gross pay.
Using wagebracket method: Federal income tax witholding $
Using percentage method: Federal income tax withholding $
: Jordan Peters single; federal withholding allowances earned monthly gross pay of $ He contributed $ to a flexible spending account during the period.
Using wagebracket method: Federal income tax withholding $
Using percentage method: Federal income tax withholding $
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