Question
Working on the payroll project chapter 2015 I am stuck on No.30 it says prepare the payroll for the latter pay December from time Clerk's
Working on the payroll project chapter 2015 I am stuck on No.30 it says prepare the payroll for the latter pay December from time Clerk's Report Nos 48 and 49 and record the pay checks issued all employees. ( I have done this Part) In this pay, the president of the company, Joseph O'Neil, is paid his annual bonus. This does not affect O'Neil's insurance coverage, which is based on regular pay. This year, his bonus is $75,000. For withholding purpose, the bonus is considered a supplemental payment and is added to his gross pay, and the aggregate amount is taxed. For this pay, O'Neill has increased him SIMPLE deduction to $4000. To determine the federal income tax, use the Table of Allowance Value along with Tax table A. In calculating the tax, do not round the aggregate to the nearest earnings dollar. In this pay, O'Neill has reached the OASDI ceiling. To calculate O'Neill's OASDI tax, multiply the OASDI ceiling of $117,000 by 6.2 percent and then subtract the year-to-date OASDI taxes withheld. Can anyone help me
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