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Help please explain. I keep getting it wrong. Thank you for your help. Bamerty Company (a Utah employer) wants to give a holiday bonus check
Help please explain. I keep getting it wrong. Thank you for your help.
Bamerty Company (a Utah employer) wants to give a holiday bonus check of $375 to each employee. Since it wants the check amount to be $375, it will need to gross-up the amount Hoe bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental payments. Enter deductions beginning with a minus sign (-). You may need to adjust by a penny (subtract or add) to the gross amount to get net pay to calculate exactly to 3375.00. Round your calculations and final answers to the nearest cent. Gross borus amount 997.34 Federal income tax withheld 249.33 CASDI tax withheld Hi tax withheld 14.46 utan income tax withheld Take-home bonus check 375 49.36 Damerly Company (a Utah employer) wants to give a holiday bonus check of $375 to each employee. Since it wants the check amount to be $375, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental payments. Enter deductions beginning with a minus sign (-). You may need to adjust by a penny (subtract or add) to the gross amount to get net pay to calculate exactly to $375.00. Round your calculations and final answers to the nearest cent. Gross bonus amount Federal income tax withheld OASDI tax withheld HI tax withheld Utah income tax withheld Take-home bonus check
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