1: Warren Cavanagh (single; O federal withholding allowances) earned weekly gross pay of $620. For each period, he makes a 401(k) retirement plan contribution of 5% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 60.00 67.58 2: Stacey Vaughn (married; 4 federal withholding allowances) earned daily gross pay of $275. For each period, she makes a 401(k) contribution of 8% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 0.00 3.30 × × 3: Jordan Peters (single; 3 federal withholding allowances) earned monthly gross pay of $2,300. He contributed $150 to a flexible spending account during the period. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 172.00 182.64

1: Warren Cavanagh (single; O federal withholding allowances) earned weekly gross pay of $620. For each period, he makes a 401(k) retirement plan contribution of 5% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 60.00 67.58 2: Stacey Vaughn (married; 4 federal withholding allowances) earned daily gross pay of $275. For each period, she makes a 401(k) contribution of 8% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 0.00 3.30 × × 3: Jordan Peters (single; 3 federal withholding allowances) earned monthly gross pay of $2,300. He contributed $150 to a flexible spending account during the period. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 172.00 182.64

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 3SSQ

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Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
1. Warren Cavanagh (single; 0 federal withholding allowances) earned weekly gross pay of $620. For each period, he makes a 401(k) retirement pan contribution od 5% of gross pay. Using wage-bracket method; Ferderal income tax withholding=$ Using percentage method, Federal income tax withholding=$
2. Stacey Vaughn (married; 4 federal withholding allowances) earned daily gross of $275. For each period, she makes a 401(k) contribution of 8% of pay. Using wage-bracket method. Federal income tax withholding=$ Using percentage method: Federal income tax withholding=$
3. Jordan Peters (single; 3 federal withholding allowances) earned monthly gross pay of $2,300. He contributes $150 to a flexible spending account during the period. Using wage-bracket method: Federal income tax withholding=$ Using percentage method: Federal income tax withholding=$
Carol Harrison (single; 0 federal withholding allowance) earned daily gross pay of $240. For each period, she makes a 401(k) contribution of 11% of gross pay.Using wage-bracket method: Federal income tax withholding = $Using percentage method: Federal income tax withholding = $
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 = $
Thomas Fortuna (married; 4 federal withholding allowances) earned weekly gross pay of $745. For each period, he makes a 401(k) retirement plan contribution of 10% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 2:Barbara Houlihan (single; 1 federal withholding allowance) earned daily gross pay of $320. For each period, she makes a 401(k) contribution of 12% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 3:Marcus Xavier (married; 5 federal withholding allowances) earned monthly gross pay of $3,650. He participates in a flexible spending account, to which he contributes $200 during the period. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $
1: Armand Giroux (single; 0 federal withholding allowances) earned weekly gross pay of $1,445. For each period, he makes a 401(k) retirement plan contribution of 6.5% of gross pay. The city in which he works (he lives elsewhere) levies a tax of 1.15% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 0.75% of an employee's taxable pay on nonresidents.Federal income tax withholding = $State income tax withholding = $Local income tax withholding = $ 2: Peter Quigley (married; 8 federal withholding allowances) earned weekly gross pay of $2,420. He contributes $95 to a flexible spending account during the period. The city in which he lives and works levies a tax of 2.6% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 1.8% of an employee's taxable pay on nonresidents.Federal income tax withholding = $State income tax withholding = $Local income tax withholding = $…
Can you answer each problem
1: Mortimer Klein earned gross pay of $1,340. Each period he makes a 401(k) contribution of 3% of gross pay. His current year taxable earnings for Social Security tax, to date, are $184,600. Total Social Security tax = $ × 2: Helena Smith earned gross pay of $2,000. She does not make any retirement plan contributions. Her current year taxable earnings for Social Security tax, to date, are $137,500. Total Social Security tax = $ 3: Kasey Wolfe earned gross pay of $1,140. Each period he contributes 1.5% of gross pay to a flexible spending account. His current year taxable earnings for Social Security tax, to date, are $71,900. Total Social Security tax = $ 4: Matthew Pugh earned gross pay of $840. Each period he designates 3% of gross pay for a dependent care flexible spending account. His current year taxable earnings for Social Security tax, to date, are $137,900. Total Social Security tax = $ ×
1. Alfred Morneau earned gross pay of $640. Each period he makes a 401(k) contribution of 7% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $58,300.Total Social Security tax = $ 3. Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $158,900.Total Social Security tax = $
3. Loretta Goulet (married; 3 federal withholding allowances) earned monthly gross pay of $2,800. For each period, she makes a 401(k) contribution of 14 gross pay. Federal income tax withholding=$