Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the percentage method table for a manual payroll system. Use percentage method tables for a manual payroll systems Number of Dependents from Form W- 4 3 2 @ 1 Semimonthly Payroll $ 6,700 $ 5,180 $ 3,780 $ 4,380 Naila Wilfred Byron Annie Marital Status Married Married Single single Required: Complete the table for taxes to be withheld for each pay period. (Round your Intermediate computations and final answers to 2 decimal places.) Federal Withholding Tax Employee Naila Wilfred Byron Annie Social Security Medicare Tax Tax $ 415.40 $ 97.15 $ 321.16 $ 75.11 $ 234.36 S 54.81 $ 271.56 S 63.51 Total Taxes Withheld S 512.55 S 396.27 S 831.61 $ 542.44 S 335.07 32% 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later WEEKLY Payroll Period STANDARD Withholding Rate Schedules Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the box in Step 2 of Form W-4 is NOT checked) (Use these if the box in Step 2 of Form W-4 IS checked) of the amount If the Adjusted Wage Amount of the amount If the Adjusted Wage Amount (line 1h) is: that the (line 1h) is: that the The tentative Adjusted The tentative Adjusted But less than amount to Plus this Wage exceeds But less than amount to Plus this Wage exceeds At least- withhold is: percentage At least withhold percentage- A B D E A B D E Married Filing Jointly Married Filing Jointly $0 $ 477 $ 0.00 0% $0 SO $ 238 $ 0.00 0% $0 $ 477 $ 857 $ 0.00 10% $ 477 $ 238 $ 428 S 0.00 10% $ 238 $ 857 $ 2,020 $38.00 12% $ 857 $ 428 $ 1,010 $ 19.00 12% $ 428 $ 2,020 $ 3.766 $ 177.56 22% $ 2,020 $ 1.010 $ 1,883 $ 88.84 22% $ 1,010 $ 3.766 $ 6,758 $ 561.68 24% $ 3.766 $ 1,883 $ 3,379 S 280.90 24% $ 1,883 $ 6,758 $ 8,452 $ 1,279.76 32% $ 6,758 $ 3,379 $ 4,226 $ 639.94 $ 3,379 $ 8,452 $ 12,439 $ 1,821.84 35% $ 8,452 $ 4,226 $ 6,220 S 910.98 35% $ 4,226 $ 12.439 $ 3,217.29 37% S 12.439 $ 6,220 $ 1,608.88 37% $ 6,220 Single or Married Filing Separately Single or Married Filing Separately $0 $ 238 $ 0.00 0% $0 SO $ 119 $ 0.00 0% $0 $ 238 $ 428 $ 0.00 10% $ 238 $ 119 $ 214 $ 0.00 10% $ 119 $ 428 $ 1,010 $ 19.00 12% $ 428 $ 214 $ 505 $ 9.50 12% $ 214 $ 1.010 $ 1.883 $ 88.84 22% $ 1.010 S 505 $ 942 $ 44.42 22% $ 505 $ 1.883 $3,379 $ 280.90 24% $ 1,883 $ 942 $ 1.689 S 140.56 24% $ 942 $ 3,379 $ 4.226 $ 639.94 32% $ 3,379 $ 2,113 S 319.84 32% $ 1.689 $ 4,226 $ 10,208 $ 910.98 35% $ 4,226 $ 2.113 $ 5,104 $ 455.52 35% $ 2.113 S 10.208 $ 3,004.68 37% $ 10,208 $ 5,104 $ 1,502.37 37% $ 5.104 Head of Household Head of Household $0 $ 359 $ 0.00 0% $0 $0 $ 179 $ 0.00 0% $0 $ 359 $ 630 $ 0.00 10% $ 359 $ 179 $ 315 $ 0.00 10% $ 179 $ 630 $ 1,391 $ 27.10 12% $ 630 $ 315 $ 696 $ 13.60 12% $ 315 $1,391 $ 2.003 $ 118.42 22% $ 1,391 S 696 $ 1,001 $ 59.32 22% $ 696 $ 2,003 $ 3,499 $ 253.06 24% $ 2,003 $ 1,001 $ 1.750 S 126.42 24% $ 1,001 $ 3,499 $ 4,346 $ 612.10 32% $ 3,499 $ 1.750 $ 2.173 S 306.18 32% $ 1,750 $ 4,346 $ 10.328 $ 883.14 35% $ 4,346 $ 2.173 $ 5,164 S 441.54 35% $ 2.173 $ 10,328 $ 2,976.84 37% $ 10,328 $5,164 $ 1,488.39 37% $5,164 $ 1,689 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later BIWEEKLY Payroll Period STANDARD Withholding Rate Schedules Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the box in Step 2 of Form W-4 is NOT checked) (Use these if the box in Step 2 of Form W-4 IS checked) If the Adjusted Wage Amount of the amount If the Adjusted Wage Amount of the amount (line 1h) is: that the (line 1h) is: that the The tentative Adjusted The tentative Adjusted But less than amount to Plus this Wage exceeds But less than amount to Plus this Wage exceeds At least- withhold is: percentage At least- withhold is: percentage A B c D E B D E Married Filing Jointly Married Filing Jointly $0 $ 954 $ 0.00 0% $0 SO $ 477 $ 0.00 0% $0 $ 954 $ 1,713 S 0.00 10% $ 954 $ 477 $ 857 $ 0.00 10% $ 477 $ 1,713 $ 4,040 $ 75.90 12% $ 1.713 S 857 $ 2.020 $ 38.00 12% $ 857 $ 4,040 $ 7,533 $ 355.14 22% $ 4,040 $ 2,020 $ 3,766 $ 177.56 22% $ 2,020 $ 7,533 $ 13,515 $ 1,123.60 24% $ 7,533 $ 3,766 $ 6,758 $ 561.68 24% $ 3.766 $ 13,515 $ 16,904 $ 2.559.28 32% $ 13,515 $ 6,758 $ 8.452 $ 1,279.76 32% $ 6,758 $ 16,904 $ 24,879 $ 3,643.76 35% $ 16,904 $ 8,452 $ 12,439 $ 1,821.84 35% S 8,452 $ 24,879 $ 6,435.01 37% $ 24,879 $ 12,439 $ 3.217.29 37% $ 12,439 Single or Married Filing Separately Single or Married Filing Separately $0 $ 477 $ 0.00 0% $0 SO $ 238 $ 0.00 0% $0 $ 477 $ 857 $ 0.00 10% $ 477 $ 238 $ 428 $ 0.00 10% $ 238 $ 857 $ 2,020 $38.00 12% $ 857 $ 428 $ 1.010 $ 19.00 12% $ 428 $ 2,020 $ 3.766 $ 177.56 22% $ 2,020 $ 1,010 $ 1,883 $ 88.84 22% $ 1,010 $ 3.766 $ 6,758 $ 561.68 24% $ 3.766 $ 1,883 $ 3,379 $ 280.90 24% $ 1.883 $ 6,758 $ 8,452 $ 1,279.76 32% $ 6,758 $ 3,379 $ 4,226 $ 639.94 32% $3,379 $ 8.452 $ 20,415 $ 1.821.84 35% $ 8,452 $ 4,226 $ 10,208 $ 910.98 35% $ 4,226 $ 20,415 $ 6,008.89 37% $ 20,415 $ 10,208 $ 3,004.68 37% $ 10,208 Head of Household Head of Household $0 $ 717 $ 0.00 0% $0 SO $ 359 $ 0.00 0% $0 $ 717 $ 1,260 $ 0.00 10% $ 717 $ 359 $ 630 $ 0.00 10% $ 359 $1,260 $ 2.783 $ 54.30 12% $ 1,260 $ 630 $ 1,391 $ 27.10 12% $ 630 $ 2.783 $ 4,006 S 237.06 22% $ 2,783 $ 1,391 $ 2,003 $ 118.42 22% $ 1,391 $ 4,006 $ 6,998 S 506.12 24% $ 4.006 $ 2.003 $ 3,499 $ 253.06 24% $ 2,003 $6.998 S 8,692 $ 1,224.20 32% $ 6,998 $ 3,499 $ 4,346 $ 612.10 32% $ 3,499 $ 8,692 $ 20,656 $ 1,766.28 35% $ 8,692 $ 4,346 $ 10,328 $ 883.14 35% $ 4,346 $ 20,656 $ 5,953.68 37% $ 20.656 $ 10,328 $ 2,976.84 37% $ 10,328 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later SEMIMONTHLY Payroll Period STANDARD Withholding Rate Schedules Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the box in Step 2 of Form W-4 is NOT checked) (Use these if the box in Step 2 of Form W-4 IS checked) If the Adjusted Wage Amount of the amount If the Adjusted Wage Amount of the amount (line 1h) is: that the that the (line 1h) is: The tentative Adjusted The tentative Adjusted But less than amount to Plus this Wage exceeds But less than amount to Plus this Wage exceeds At least- withhold is: percentage At least- withhold is: percentage A B D E A B D E Married Filing Jointly Married Filing Jointly $0 $ 1,033 $ 0.00 0% $0 SO $ 517 $ 0.00 0% $0 $ 1,033 $ 1,856 $ 0.00 10% $ 1,033 $ 517 $ 928 $ 0.00 10% $ 517 $ 1,856 $ 4,377 $ 82.30 12% $ 1.856 $ 928 $ 2,189 $ 41.10 12% $ 928 $4,377 S 8.160 $384.82 22% $ 4,377 $ 2.189 $ 4,080 $ 192.42 22% $ 2.189 $ 8,160 $ 14,642 $ 1,217.08 24% $ 8.160 $ 4,080 $ 7.321 $ 608.44 24% $ 4,080 $ 14,642 $ 18,313 $ 2,772.76 32% $ 14,642 $ 7,321 $ 9,156 $ 1,386.28 32% $ 7,321 $ 18,313 $ 26,952 $ 3,947.48 35% $18.313 $ 9.156 $ 13,476 $ 1,973.48 35% $ 9.156 $26.952 $ 6,971.13 37% $26.952 $ 13,476 $ 3,485.48 37% $ 13,476 Single or Married Filing Separately Single or Married Filing Separately $0 $ 517 $ 0.00 0% $0 SO $ 258 $ 0.00 0% $0 $ 517 $ 928 $ 0.00 10% $ 517 $ 258 $ 464 $ 0.00 10% $ 258 $ 928 $ 2.189 $ 41.10 12% $ 928 $ 464 $ 1,094 $20.60 12% $ 464 $ 2.189 $ 4,080 $ 192.42 22% $ 2.189 $1,094 $ 2,040 $ 96.20 22% $ 1.094 $ 4,080 $ 7,321 $ 608,44 24% $ 4,080 $ 2,040 $ 3,660 $ 304.32 24% $ 2,040 $ 7,321 $ 9,156 $ 1,386.28 32% $ 7,321 $3,660 $ 4,578 $ 693.12 32% $3,660 $ 9.156 S 22.117 $ 1,973.48 35% $ 9,156 $ 4,578 $ 11,058 $ 986.88 35% $ 4,578 $ 22.117 $ 6,509.83 37% $ 22,117 $ 11,058 $ 3,254.88 37% $ 11,058 Head of Household Head of Household $0 $ 777 $ 0.00 0% $0 SO $ 389 $ 0.00 0% $0 $ 777 $ 1,365 $ 0.00 10% $ 777 $ 389 $ 682 $ 0.00 10% $ 389 $ 1,365 $ 3,015 $ 58.80 12% $ 1,365 S 682 $ 1,507 $ 29.30 12% $ 682 $ 3,015 $ 4,340 S 256.80 22% $ 3,015 $ 1,507 $ 2.170 $ 128.30 22% $ 1.507 $ 4,340 $ 7,581 $ 548.30 $ 4,340 $ 2.170 $ 3,791 $ 274.16 24% $ 2.170 $ 7,581 $ 9,417 $ 1,326.14 32% $ 7.581 $ 3.791 $ 4.708 $ 663.20 32% $ 3,791 $ 9,417 $ 22,377 $1.913.66 35% $ 9,417 $ 4,708 $ 11,189 $ 956.64 35% $ 4,708 $ 22,377 $ 6,449.66 37% $ 22,377 $ 11,189 $ 3,224.99 37% $ 11,189 24% 32% 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later MONTHLY Payroll Period STANDARD Withholding Rate Schedules Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the box in Step 2 of Form W-4 is NOT checked) (Use these if the box in Step 2 of Form W-4 IS checked) If the Adjusted Wage Amount of the amount If the Adjusted Wage Amount of the amount (line 1h) is: that the (line 1h) is: that the The tentative Adjusted The tentative Adjusted But less than amount to Plus this Wage exceeds But less than amount to Plus this Wage exceeds At least- withhold is: percentage At least- withhold is: percentage A B C D E A B D E Married Filing Jointly Married Filing Jointly $0 $ 2,067 $ 0.00 0% $0 SO $ 1.033 $ 0.00 0% $0 $ 2.067 $ 3.713 $ 0.00 10% $ 2.067 $ 1,033 $ 1.856 $ 0.00 10% $ 1,033 $3,713 $ 8.754 $ 164.60 12% $ 3,713 $ 1,856 $ 4,377 $ 82.30 12% $ 1,856 $ 8.754 $ 16,321 $ 769.52 22% $ 8.754 $ 4,377 $ 8.160 $ 384.82 22% $ 4,377 $ 16,321 $ 29,283 $ 2,434.26 24% $ 16,321 $ 8.160 $ 14,642 $1,217.08 24% $ 8,160 $ 29,283 $36,625 $ 5,545.14 $ 29,283 $ 14,642 $ 18.313 $ 2,772.76 32% $ 14,642 S 36,625 $ 53,904 $ 7,894.58 35% $ 36,625 $ 18,313 $26.952 $ 3,947.48 35% $ 18,313 $ 53,904 $ 13,942.23 37% $ 53,904 $ 26,952 $ 6,971.13 37% $ 26,952 Single or Married Filing Separately Single or Married Filing Separately $0 $ 1,033 $ 0.00 0% $0 SO $ 517 $ 0.00 0% $0 $ 1,033 $ 1,856 $ 0.00 10% $ 1,033 $ 517 $ 928 $ 0.00 10% $ 517 $ 1,856 $ 4,377 $ 82.30 12% $ 1,856 S 928 $ 2.189 $ 41.10 12% $ 928 $4,377 S 8.160 $384.82 22% $ 4,377 $ 2,189 $ 4,080 $ 192.42 22% $ 2.189 $ 8.160 $ 14,642 $ 1,217.08 24% $ 8,160 $ 4,080 $7,321 $ 608.44 24% $ 4,080 $ 14,642 $ 18,313 $ 2,772.76 $ 14,642 $ 7,321 $ 9.156 $ 1,386.28 32% $ 7,321 $ 18,313 $ 44,233 $ 3,947.48 35% $ 18,313 $ 9,156 $ 22.117 $ 1,973.48 35% $ 9,156 $ 44,233 $ 13,019.48 37% $ 44,233 $ 22.117 $ 6,509.83 37% $ 22.117 Head of Household Head of Household $0 $ 1,554 $ 0.00 0% $0 SO $ 777 $ 0.00 0% $0 $ 1,554 $ 2.729 $ 0.00 10% $ 1,554 $ 777 $ 1.365 $ 0.00 10% $ 777 $ 2,729 $ 6,029 $ 117.50 12% $ 2,729 $1,365 $ 3,015 $ 58.80 12% $ 1,365 $ 6,029 $ 8,679 $513.50 22% $ 6,029 $ 3,015 $ 4.340 $ 256.80 22% $ 3,015 $ 8,679 $ 15,163 $ 1,096.50 $ 8,679 $ 4,340 $ 7,581 $ 548.30 24% $ 4,340 S 15.163 $ 18,833 $ 2,652.66 32% $ 15,163 $ 7,581 $ 9,417 $ 1,326.14 32% S 7,581 $ 18,833 $ 44,754 $ 3.827.06 35% $ 18,833 $ 9,417 $ 22,377 $1.913.66 35% $ 9,417 $ 44,754 $ 12,899.41 37% $ 44,754 $ 22,377 S 6,449.66 37% $ 22,377 32% 24%

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_2

Step: 3

blur-text-image_3

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

Global Financial Systems Stability And Risk

Authors: Jon Danielsson

1st Edition

0273774662, 9780273774662

More Books

Students also viewed these Accounting questions