Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Joseph earns 2307.69 biweekly, he has a w/h allowance of 4(155.8). He received a 75,000 bonus and has a SIMPLE deduction of 4000. I'm having
Joseph earns 2307.69 biweekly, he has a w/h allowance of 4(155.8). He received a 75,000 bonus and has a SIMPLE deduction of 4000. I'm having trouble finding the FIT deduction amount. I used the calculation below.
73307.69-623.2=72984.49-18437=54547.49*.396=21600.8+5062.72=26663.52, this doesn't seem to be right from using the percentage method.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started