Justin's einployer uses the percentage method to calculate his federal withholding. Justin earns $50,960 annually, and takes 3 exemptions. What is his weekly taxable income? PERCENTAGE METHOD FOR FIT WITHHOLDING SINGLE PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 Weekly Taxable Wage The amount of FIT withholding is -- Over But not over... $1 $0.00 0.10(gross pay - $51) $14.40 0.15(gross pay - 195) $81.90 0.20(gross pay $645) $195 195 645 645 1,482 +]

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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Justin's eimployer uses the percentage method to calculate his federal withholding. Justin
earns $50,960 annually, and takes 3 exemptions. What is his weekly taxable income?
PERCENTAGE METHOD FOR FIT WITHHOLDING SINGLE PERSON
WEEKLY PAYROLL PERIOD
Allowance Rate = $63.46
Weekly Taxable Wage
The amount of FIT withholding is
Over
But not over...
$0.00 0.10(gross pay - $51)
$14.40 0.15(gross pay - 195)
$81.90 0.20(gross pay - $645)
$1
$195
195
645
645
1,482
Answer: $
Transcribed Image Text:Justin's eimployer uses the percentage method to calculate his federal withholding. Justin earns $50,960 annually, and takes 3 exemptions. What is his weekly taxable income? PERCENTAGE METHOD FOR FIT WITHHOLDING SINGLE PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 Weekly Taxable Wage The amount of FIT withholding is Over But not over... $0.00 0.10(gross pay - $51) $14.40 0.15(gross pay - 195) $81.90 0.20(gross pay - $645) $1 $195 195 645 645 1,482 Answer: $
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