Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $855. For each period, he makes a 403(b) retirement plan contribution of 12% of gross pay. Using wage-bracket method: Federal income tax withholding = $_ Using percentage method: Federal income tax withholding = $
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- Psa 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 Sam Colendge (married, 4 federal withholding allowances) earned weekly gross pay of $565 00 Federal income tax withholding-S 2. Michael Kolk (single: 2 federal withholding allowances) earned biweekly gross pay of $975 He participates in a flexible spending account, to which he contributes $100 during the period Federal income tax withholding-5 3: Anita McLachlan (single. O federal withholding allowances) earned monthly gross pay of $2,440 For each period, she makes a 401(k) contribution of 9% of gross pay Federal income tax withholding $ 4 Stacey Williamson…PSc 3-5 Calculate Federal Income Tax Withholding Using Two Methods (Pre-2020 Form W-4) For each employee listed, use both the wage-bracket method and 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: Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $875. For each period, he makes a 403(b) retirement plan contribution of 14% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 2: Carol Harrison (single; 0 federal withholding allowance) earned daily gross pay of $210. For each period, she makes a 401(k) contribution of 13% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage…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 the Federal Tax Tables in Appendix A of your textbook. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Publication 15-T (2020) 1: Juan Hoffman (single; 2 federal withholding allowances) earned weekly gross pay of $445. Federal income tax withholding = $ 2: William Harrison (single; 1 federal withholding allowance) earned biweekly gross pay of $990. He contributes $75 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 $2,800. For each period, she makes a 401(k) contribution of 14% of gross pay. Federal…
- PSc 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 the Federal Tax Tables in Appendix A of your textbook. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Publication 15-T (2020) 1: Tony Daniels (Married; 4 federal withholding allowances) earned weekly gross pay of $800. Federal income tax withholding = $ 2: Mario Gonzales (married; 5 federal withholding allowances) earned biweekly gross pay of $2,025. He participates in a flexible spending account, to which he contributes $100 during the period. Federal income tax withholding = $ 3: Angela Brown (single; 3 federal withholding allowances) earned monthly gross pay of $5,170. For each period, she makes a 401(k) contribution of 12%…PSc 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: Tony Daniels (Married; 4 federal withholding allowances) earned weekly gross pay of $790. Federal income tax withholding = $ 2: Mario Gonzales (married; 5 federal withholding allowances) earned biweekly gross pay of $2,010. He participates in a flexible spending account, to which he contributes $110 during the period. Federal income tax withholding = $ 3: Angela Brown (single; 3 federal withholding allowances) earned monthly gross pay of $5,085. For each period, she makes a 401(k) contribution of 13.5% of gross pay. Federal income tax withholding = $ 4: Linda…PSa 3-2 Calculate Gross Pay & Taxable Pay For each employee, first calculate gross pay. Then determine taxable income used to calculate federal income tax withholding, Social Security tax, and Medicare tax.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
- PSa 3-7 Calculate Federal Income Tax Withholding Using the Percentage Method (2020/2021 Form W-4) For each employee listed, use the percentage method to calculate federal income tax withholding for an employee who has submitted a 2020 Form W-4. Refer to Publication 15-T. 1: Stephanie Williams files as single on her tax return and earned weekly gross pay of $700. For each pay period she makes a flexible spending account contribution of 7% of gross pay. Stephanie did not enter any information in steps 2-4 of the form. Federal income tax withholding S 2 Mo Fangia files as single on his tax return and earned weekly gross pay of $1020. He does not make any retirement plan contributions. Mo entered $30 on line 4c of Form W-4 and did not enter any information in steps 2 & 3 of the form Federal income tax withholding S 3: Michaela Sampson files as mamed fing jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of gross pay.…PSb 3-8 Calculate Federal (Wage-Bracket Method - pre-2020 Form W-4), State, and Local Income Tax Withholding For each employee listed, use the wage-bracket method to calculate federal income tax withholding, assuming that each has submitted a pre-2020 Form W-4. Then calculate both the state income tax withholding (assuming a state tax rate of 5.0% of taxable pay, with taxable pay being the same for federal and state income tax withholding), and the local income tax withholding. Refer to the Federal Tax Tables in Appendix A of your textbook. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Publication 15-T (2020) 1: Jay Monroe (single; 2 federal withholding allowances) earned weekly gross pay of $1,145. For each period, he makes a 401(k) retirement plan contribution of 12% of gross pay. The city in which he works (he lives elsewhere) levies a tax of 2% of an employee's taxable pay…PSb 3-7 Calculate Federal Income Tax Withholding Using the Percentage Method (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 2020 Form W-4. Refer to Appendix A, 2020 Federal Tax Tables in your textbook. Publication 15-T (2020) 1: Julia Jacobsen files as single on her tax return and earned weekly gross pay of 500. For each pay period she makes a 401(k) contribution of 2% of gross pay. Julia checked box 2c on Form W-4, entered $40 on line 4c of the form, and did not enter any information in step 3 of the form. Federal income tax withholding = | 2: Alejandro Wright files as single on his tax return and earned weekly gross pay of 1300. He does not make any retirement plan contributions. Alejandro entered 500 in step 3 of the form and did not enter any information in steps 2 & 4 of the form. Federal income tax withholding = $ Tentative Federal Income Tax Withholding = $ 3: Beatrice Nen files…
- Select the correct order of the line items listed below based on the sequence of their appearance on Form US 1040. Number the items from the lowest number (1) going to the first item to appear on the return and the last number going to the final item from the list to appear on the return. Question 5 options: Wages Taxes withheld and quarterly tax payments Non-refundable tax credit Student Loan Interest Deduction Standard Deduction Interest Income Refund or Taxes Due Computed income tax before non-refundable tax credits Taxable Income Adjusted Gross Income (AGI)PSb 5-3 Calculate FUTA Tax For each of the following independent circumstances, calculate the FUTA tax owed by the employer: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.PSb 3-9 Calculate Federal (Percentage Method - pre-2020 Form W-4), State, and Local Income Tax Withholding For each employee listed, use the percentage method to calculate federal income tax withholding, assuming that each has submitted a pre-2020 Form W-4. Then calculate both the state income tax withholding (assuming a state tax rate of 5.0% of taxable pay, with taxable pay being the same for federal and state income tax withholding), and the local income tax withholding. Refer to the Federal Tax Tables in Appendix A of your textbook. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Publication 15-T (2020) 1: Armand Giroux (single; 0 federal withholding allowances) earned weekly gross pay of $1,500. For each period, he makes a 401(k) retirement plan contribution of 8% of gross pay. The city in which he works (he lives elsewhere) levies a tax of 1% of an employee's taxable pay…