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FUTA IS 6.2%. SUTA IS 5.4% if needed Shirley Riddle earns $762 biweekly. She is single and claims no withholding allowances. She saves 2% of
FUTA IS 6.2%. SUTA IS 5.4% if needed
Shirley Riddle earns $762 biweekly. She is single and claims no withholding allowances. She saves 2% of her salary for retirement and $22.73 in nonexempt insurance premiums each pay period. The Social Security Tax is 42% from earnings to be taxed. The Medicare tax is 1.45% from all earnings. What are her net earnings for each pay period? Click the icon to view the IRS Table for Figuring Withholding Allowance According to the Percentage Method Click here to view the Table for Percentage Method of Withholding - Biweekly Payroll Period The net biweekly earnings are 5 (Round to the nearest cent as needed) IRS Table for Figuring Withholding Allowance According to the Percentage Method Payroll Period One Withholding Allowance Weekly $73.08 Biweekly $146.15 Semimonthly $158.33 Monthly $316.67 Quarterly $950.00 Semiannually $1,900.00 Annually $3,800.00 Daily or miscellaneous (each day of the payroll period) $14.62 ng Table for Percentage Method of Withholding - BIWEEKLY Payroll Period (For Wages Paid in 2012) Single person (including head of household) If the amount of wages (after subtracting wages are subcacing The amount of income tax to withhold is: withholding allowances) is: Not over $83 Over But not over of excess over $83 $417|$0.00 plus 10% $83 $417 $1,442533.40 plus 15% $417 |$1,442 $3,377 $187.15 plus 25% $1,442 $3,377 $6.9545670.90 plus 28% $3,377 $6.954 $15.019 $1,672.46 plus 33% $6,954 $15.019 $4.333.91 plus 35% $15,019 Shirley Riddle earns $762 biweekly. She is single and claims no withholding allowances. She saves 2% of her salary for retirement and $22.73 in nonexempt insurance premiums each pay period. The Social Security Tax is 42% from earnings to be taxed. The Medicare tax is 1.45% from all earnings. What are her net earnings for each pay period? Click the icon to view the IRS Table for Figuring Withholding Allowance According to the Percentage Method Click here to view the Table for Percentage Method of Withholding - Biweekly Payroll Period The net biweekly earnings are 5 (Round to the nearest cent as needed) IRS Table for Figuring Withholding Allowance According to the Percentage Method Payroll Period One Withholding Allowance Weekly $73.08 Biweekly $146.15 Semimonthly $158.33 Monthly $316.67 Quarterly $950.00 Semiannually $1,900.00 Annually $3,800.00 Daily or miscellaneous (each day of the payroll period) $14.62 ng Table for Percentage Method of Withholding - BIWEEKLY Payroll Period (For Wages Paid in 2012) Single person (including head of household) If the amount of wages (after subtracting wages are subcacing The amount of income tax to withhold is: withholding allowances) is: Not over $83 Over But not over of excess over $83 $417|$0.00 plus 10% $83 $417 $1,442533.40 plus 15% $417 |$1,442 $3,377 $187.15 plus 25% $1,442 $3,377 $6.9545670.90 plus 28% $3,377 $6.954 $15.019 $1,672.46 plus 33% $6,954 $15.019 $4.333.91 plus 35% $15,019 Step by Step Solution
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