Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-24

Authors: Tracie L Nobles, Cathy Scott

11th Edition

1111528306, 978-1111528300

More Books

Students also viewed these Accounting questions