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Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the check amount to be
Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the check amount to be $750, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to Genna Fredrich if her earnings for the year are $55,920. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5.1% Massachusetts income tax must be withheld on supplemental payments. Enter deductions beginning with a minus sign (-) Gross bonus amount Federal income tax withheld OASDI tax withheld HI tax withheld Massachusetts income tax withheld Take-home bonus check Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the check amount to be $750, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to Genna Fredrich if her earnings for the year are $55,920. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5.1% Massachusetts income tax must be withheld on supplemental payments. Enter deductions beginning with a minus sign (-) Gross bonus amount Federal income tax withheld OASDI tax withheld HI tax withheld Massachusetts income tax withheld Take-home bonus check
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