Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Making It Work Continue to assume that the STANDARD withholding rate schedule is used. Note : Enter ALL values as positive numbers and round amounts

Making It Work Continue to assume that the STANDARD withholding rate schedule is used.

Note: Enter ALL values as positive numbers and round amounts to two decimal places unless instructed otherwise.

Note: To properly compute the withholding, return to the steps provided to search for Publication 15-T (Wage Bracket Method page). Follow through step 5. Once Pub 15-T launches, scroll to the page titled 2021 Percentage Method Tables for Automated Payroll Systems.

Finley River is married filing jointly and paid $12,840.35 on a biweekly basis.

Description
1. Begin with gross wages, rounded to the nearest dollar. $fill in the blank c18e10fde050061_1
2. Identify the correct bracket. Wages starting at $fill in the blank c18e10fde050061_2 but not over $fill in the blank c18e10fde050061_3. (fill in the blank c18e10fde050061_4)
3. Compute value over the starting wage for this bracket. $fill in the blank c18e10fde050061_5
4. Multiply the overage by the tax rate in the table (enter as a decimal). fill in the blank c18e10fde050061_6 $fill in the blank c18e10fde050061_7
5. Add the bracket minimum tax. fill in the blank c18e10fde050061_8
6. Add the two amounts together = Total withholding for Naiser Tevin. $fill in the blank c18e10fde050061_9

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

Fundamental Accounting Principles

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

20th Edition

1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870

More Books

Students also viewed these Accounting questions