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Posted on Jul 19, 2024

Jim Waters is a diesel mechanic working on truck engines for Hunter Trucking. His weekly pay is $712.00 for a 40-hour workweek, but he is

Jim Waters is a diesel mechanic working on truck engines for Hunter Trucking. His weekly pay is $712.00 for a 40-hour workweek, but he is paid time-and-a-half for all overtime. He is married and claims two withholding allowances. Deductions include FICA, Medicare, federal withholding using the percentage method, state disability insurance of 1%, state withholding at 3.5%, credit union payments of $125, retirement deductions of $55, association dues of $20, and a contribution to the Red Cross of $25. Find the taxes/withholdings/deductions and net pay for a 50-hour work week. SHOW ALL WORK.

Jims ANNUAL Salary:

(disregarding overtime)

_________________

Weekly Gross Earning Calculation (Show Work)

_____________+____________

Regular earnings Overtime earnings

Jims Gross Earnings

for the 50-hr work week

3. FICA (6.2%)

4. Medicare (1.45%)

5. Federal withholding

p.258 - green handout - percentage method

6. State disability insurance (1%)

7. State withholding (3.5%)

8. Other deductions

Total Deductions: NET PAY:

image text in transcribed

Percentage Method Tables for Income Tax Withholding (For Wages Paid In 2011) TABLE 1-WEEKLY Payroll Period SINGLE persen ding hand of rood- 5) MARRIED peruan- hancurtowego the amount of water Bracting withoking The amount of income big thing fonen The out one to with: far to with Nol over $40 $0 Not over 352 SO Over- But not over Conso Over But not over of excess over $40 -$204 50.00 pus 10% -$10 5152 -5470 5000 plus 10% -5152 3204 -5704 516 40 plus 15% -3204 5479 -51479 $32.70 plus 154 -5479 3704 --$1,648 59140 plus 25% -$704 $1479 - 52032 $102.70 plus 25% -51.4TD 31.60 -$3,394 532740 plus 28% -$1.640 $2.32 -235 $520 36 plus 20% -12,812 $9.314 --2332 5846 28 plus 399 ---$2.314 34235 -57460 $313 70 plus 30% -54235 $32 82.115 2 34-1332 $1413 $1,972.43 plus 35-37443 TABLE 2-BIWEEKLY Payroll Period SINGLE peruan (including head household MARRIED peran If the amount of water the amount of wages her bring holding The amount of income tax bring wing The amount of con words to who is annis tax to witholde Not Over 501 Not over 5304 Over But not ove olve Over But not over of een over 581 -S400 5000 plus 10% -81 5304 -9950 50.00 pus 10% -$304 $400 -$1,400 532.70 plus 15% -5408 595 -$2.950 S65.40 plus $1,400 -3950 -$3,290 $102.70 plus 25% -51.408 52.95 -55.663 $365.40 plus 25%-$2.956 $3.290 - 505470 plus 20%-$3.296 35.663 -$8.469 $1.04165 plus 20% -35.663 -$14.663 51.652.46 plus 335-36780 SA -$14,887 51.82733 l 33% -58.400 $14.653. 54,23121 plus 365 - $14,603 $14.387 $5,945 27 35% 514887 TABLE 3-SEMIMONTHLY Payroll Period (A SINGLE person inclosing head household MARRIED person- the amount of wagen the amount of water subtracting withong The amount of con Subtracting with The amount of income alows to withhold allows saxlo withodis Nol over SM Not over 5:29 O But not over of excess over Over- But not over of excess over 563 -$442..50.00 plus 10% --550 $329 $0.00 plus 10% --5329 SM2 -51.525 $35 40 plus 15% $1.000 -59.204 $70.90 plus 15% --$1.000 $1.525 -$2571 $13765 plus 25% -$1,595 33.004 56.135 $395.00 plus 255 --$3.204 -S7:354 570935 plus 20% --$3,571 56.135 -59,175 $1,128 55 plus 205-56,135 -$15.885 $1.76.59 plus 30% -57354 $9.175 -$16,127 $1.979.75 plus 33% -99.175 $15,885. $4,500-2 plus 35%-515.65 $1,127 54.273.91 piku 35%-$16.127 TABLE 4-MONTHLY Payroll Period (a) SINGLE person including of hoch DI MARRIED person it the amount of wages ate the mowilower coing wholding The amount of income uttracting witholding The Mount of income withodis allowance but with Not over $175 Nor over 58 ..50 Over But not over of excess over Over But not $175 -5883 50.00 plus 10% -$175 $650 :-$2.075 $0.00 plus 10% -58 $880 -$3.050 $70.30 plus 15 - $2.075 -56408 $141.70 plus 15% $3,050 -57542 $395.85 plus 25% $3,050 $6408 $12271 579165 plus 25 8.400 57142 -$54,700 $1,416.65 plus 2857142512271 --$18.350 $2,25740 plus 20%-$12.271 554,700 -$31.771.59.53733 plus 335-514700 $18.350 $9.989 52 plus 3% $18.360 $31,771 59,168 12 plus 35%-531.771 58.54784 pus 35%-532 254 SUR -$1.050 13:09 52354 TABLE 5. Percentage Method-2011 Amount for One Withholding Allowance Payroll Period Weekly Becky Semimo Monty Quarterly Sorry Analy Day or mellaneous each day of the payroll period One Withholding Allow $7115 14231 15411 30833 15.00 1.650.00 3.700.00 1423 Percentage Method Tables for Income Tax Withholding (For Wages Paid In 2011) TABLE 1-WEEKLY Payroll Period SINGLE persen ding hand of rood- 5) MARRIED peruan- hancurtowego the amount of water Bracting withoking The amount of income big thing fonen The out one to with: far to with Nol over $40 $0 Not over 352 SO Over- But not over Conso Over But not over of excess over $40 -$204 50.00 pus 10% -$10 5152 -5470 5000 plus 10% -5152 3204 -5704 516 40 plus 15% -3204 5479 -51479 $32.70 plus 154 -5479 3704 --$1,648 59140 plus 25% -$704 $1479 - 52032 $102.70 plus 25% -51.4TD 31.60 -$3,394 532740 plus 28% -$1.640 $2.32 -235 $520 36 plus 20% -12,812 $9.314 --2332 5846 28 plus 399 ---$2.314 34235 -57460 $313 70 plus 30% -54235 $32 82.115 2 34-1332 $1413 $1,972.43 plus 35-37443 TABLE 2-BIWEEKLY Payroll Period SINGLE peruan (including head household MARRIED peran If the amount of water the amount of wages her bring holding The amount of income tax bring wing The amount of con words to who is annis tax to witholde Not Over 501 Not over 5304 Over But not ove olve Over But not over of een over 581 -S400 5000 plus 10% -81 5304 -9950 50.00 pus 10% -$304 $400 -$1,400 532.70 plus 15% -5408 595 -$2.950 S65.40 plus $1,400 -3950 -$3,290 $102.70 plus 25% -51.408 52.95 -55.663 $365.40 plus 25%-$2.956 $3.290 - 505470 plus 20%-$3.296 35.663 -$8.469 $1.04165 plus 20% -35.663 -$14.663 51.652.46 plus 335-36780 SA -$14,887 51.82733 l 33% -58.400 $14.653. 54,23121 plus 365 - $14,603 $14.387 $5,945 27 35% 514887 TABLE 3-SEMIMONTHLY Payroll Period (A SINGLE person inclosing head household MARRIED person- the amount of wagen the amount of water subtracting withong The amount of con Subtracting with The amount of income alows to withhold allows saxlo withodis Nol over SM Not over 5:29 O But not over of excess over Over- But not over of excess over 563 -$442..50.00 plus 10% --550 $329 $0.00 plus 10% --5329 SM2 -51.525 $35 40 plus 15% $1.000 -59.204 $70.90 plus 15% --$1.000 $1.525 -$2571 $13765 plus 25% -$1,595 33.004 56.135 $395.00 plus 255 --$3.204 -S7:354 570935 plus 20% --$3,571 56.135 -59,175 $1,128 55 plus 205-56,135 -$15.885 $1.76.59 plus 30% -57354 $9.175 -$16,127 $1.979.75 plus 33% -99.175 $15,885. $4,500-2 plus 35%-515.65 $1,127 54.273.91 piku 35%-$16.127 TABLE 4-MONTHLY Payroll Period (a) SINGLE person including of hoch DI MARRIED person it the amount of wages ate the mowilower coing wholding The amount of income uttracting witholding The Mount of income withodis allowance but with Not over $175 Nor over 58 ..50 Over But not over of excess over Over But not $175 -5883 50.00 plus 10% -$175 $650 :-$2.075 $0.00 plus 10% -58 $880 -$3.050 $70.30 plus 15 - $2.075 -56408 $141.70 plus 15% $3,050 -57542 $395.85 plus 25% $3,050 $6408 $12271 579165 plus 25 8.400 57142 -$54,700 $1,416.65 plus 2857142512271 --$18.350 $2,25740 plus 20%-$12.271 554,700 -$31.771.59.53733 plus 335-514700 $18.350 $9.989 52 plus 3% $18.360 $31,771 59,168 12 plus 35%-531.771 58.54784 pus 35%-532 254 SUR -$1.050 13:09 52354 TABLE 5. Percentage Method-2011 Amount for One Withholding Allowance Payroll Period Weekly Becky Semimo Monty Quarterly Sorry Analy Day or mellaneous each day of the payroll period One Withholding Allow $7115 14231 15411 30833 15.00 1.650.00 3.700.00 1423