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.  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 = $

Century 21 Accounting Multicolumn Journal
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Chapter12: Preparing Payroll Records
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 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.

 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 = $

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