Sophie is a single taxpayer. For the first payroll period in July 2020, she is paid wages of $2,200 monthly. Sophie claims one allowance on her pre-2020 Form W-4. Click here to access the withholding tables. IRS Publication 15-T, Federal Income Tax Withholding Method Pay period 2020 Allowance Amount Weekly $ 83 Biweekly 165 Semimonthly 179 Monthly 358 Quarterly 1,075 Semiannually 2,150 Annually 4,300 Round intermediate computations and your final answer to two decimal places. a. Use the percentage method to calculate the amount of Sophie's withholding for a monthly pay period. Sophie's withholding: b. Use the wage bracket method to determine the amount of Sophie's withholding for the same period.
Sophie is a single taxpayer. For the first payroll period in July 2020, she is paid wages of $2,200 monthly. Sophie claims one allowance on her pre-2020 Form W-4. Click here to access the withholding tables. IRS Publication 15-T, Federal Income Tax Withholding Method Pay period 2020 Allowance Amount Weekly $ 83 Biweekly 165 Semimonthly 179 Monthly 358 Quarterly 1,075 Semiannually 2,150 Annually 4,300 Round intermediate computations and your final answer to two decimal places. a. Use the percentage method to calculate the amount of Sophie's withholding for a monthly pay period. Sophie's withholding: b. Use the wage bracket method to determine the amount of Sophie's withholding for the same period.
Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 74APSA: Payroll Accounting Jet Enterprises has the following data available for its April 30, 2019, payroll:...
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Sophie is a single taxpayer. For the first payroll period in July 2020, she is paid wages of $2,200 monthly. Sophie claims one allowance on her pre-2020 Form W-4.
Click here to access the withholding tables.
IRS Publication 15-T, Federal Income Tax Withholding Method
Pay period | 2020 Allowance Amount | |
Weekly | $ 83 | |
Biweekly | 165 | |
Semimonthly | 179 | |
Monthly | 358 | |
Quarterly | 1,075 | |
Semiannually | 2,150 | |
Annually | 4,300 |
Round intermediate computations and your final answer to two decimal places.
a. Use the percentage method to calculate the amount of Sophie's withholding for a monthly pay period.
Sophie's withholding:
b. Use the wage bracket method to determine the amount of Sophie's withholding for the same period.
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