Question
For each employee listed, use the wage-bracket method to calculate federal income tax withholding. Refer to Appendix A, 2018 Federal Tax Tables in your textbook.
For each employee listed, use the wage-bracket method to calculate federal income tax withholding. Refer to Appendix A, 2018 Federal Tax Tables in your textbook. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1: Sam Coleridge (married; 4 federal withholding allowances) earned weekly gross pay of $565.00. Federal income tax withholding = $
2: Michael Kolk (single; 2 federal withholding allowances) earned biweekly gross pay of $975. He participates in a flexible spending account, to which he contributes $100 during the period. Federal income tax withholding = $
3: Anita McLachlan (single; 0 federal withholding allowances) earned monthly gross pay of $2,440. For each period, she makes a 401(k) contribution of 9% of gross pay. Federal income tax withholding = $
4: Stacey Williamson (married; 3 federal withholding allowances) earned semimonthly gross pay of $1,250. She participates in a cafeteria plan, to which she contributes $150 during the period. Federal income tax withholding = $
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