Question
PSb 3-3 Calculate Federal Income Tax Withholding Using the Wage-Bracket Method (Pre-2020 Form W-4) For each employee listed, use the wage-bracket method to calculate federal
PSb 3-3 Calculate Federal Income Tax Withholding Using the Wage-Bracket Method (Pre-2020 Form W-4)
For each employee listed, use the wage-bracket method to calculate federal income tax withholding for an employee who has submitted a pre-2020 Form W-4. Refer to Publication 15-T. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Paul Yount (married; 6 federal withholding allowances) earned weekly gross pay of $615. Federal income tax withholding = $
2:Paulina Robinson (single; 2 federal withholding allowances) earned biweekly gross pay of $1,265. She contributes $75 to a flexible spending account during the period. Federal income tax withholding = $
3:Lacey Kunis (single; 2 federal withholding allowances) earned monthly gross pay of $3,190. For each period, she makes a 401(k) contribution of 18% of gross pay. Federal income tax withholding = $
4:Francine Stewart (married; 4 federal withholding allowances) earned semimonthly gross pay of $1,420. She contributes $125 to a cafeteria plan during the period. Federal income tax withholding = $
PSb 3-4 Calculate Federal Income Tax Withholding Using the Percentage Method (Pre-2020 Form W-4)
For each employee listed, use the percentage method to calculate federal income tax withholding for an employee who has submitted a pre-2020 Form W-4.Refer to Publication 15-T. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Juan Hoffman (single; 2 federal withholding allowances) earned weekly gross pay of $455. Federal income tax withholding = $
2:William Harrison (single; 1 federal withholding allowance) earned biweekly gross pay of $970. He contributes $80 to a flexible spending account during the period. Federal income tax withholding = $
3:Loretta Goulet (married; 3 federal withholding allowances) earned monthly gross pay of $2,780. For each period, she makes a 401(k) contribution of 14.5% of gross pay. Federal income tax withholding = $
4:Louise Simpson (married; 9 federal withholding allowances) earned semimonthly gross pay of $2,240. She contributes $90 to a cafeteria plan during the period. Federal income tax withholding = $
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