John Doe is married and claims 3 withholding allowances. He collects overtime pay when he works over 40 hours a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICA 6.2%, Medicare 1.45%, SDI 1%, Health Insurance ($80/week), Union Dues ($4.50/week), and Trust Fund ($95/week). a.$819.32 B.$786.67 C.$768.31 D.$891.28
John Doe is married and claims 3 withholding allowances. He collects overtime pay when he works over 40 hours a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICA 6.2%, Medicare 1.45%, SDI 1%, Health Insurance ($80/week), Union Dues ($4.50/week), and Trust Fund ($95/week). a.$819.32 B.$786.67 C.$768.31 D.$891.28
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
John Doe is married and claims 3 withholding allowances. He collects overtime pay when he works over 40 hours a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICA 6.2%, Medicare 1.45%, SDI 1%, Health Insurance ($80/week), Union Dues ($4.50/week), and Trust Fund ($95/week).
a.$819.32
B.$786.67
C.$768.31
D.$891.28
![9:26
( Back FWT Table 2012-5.pdf Q
Percentage Method Tables for Income Tax Withholding
(For Wages Paid in 2012)
TABLE 1-WEEKLY Payroll Period
{a) SINGLE person (including head of household)--
If the amount of wages (after
subtracting withholding àllowances)
is:
Not over $41
Over-
$41
$209
$721
$1,688
$3,477
$7,510
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $156
Over-
$156
$490
$1,615
$2,900
$4,338
$7,624..
The amount of income tax
to withhold is:
The amount of income tax
to withhold is:
.$0
$0
But not over-
-$209
-$721
-$1,688
-%$43,477
-$7,510
$0.00 plus 10%
$16.80 plus 15%
$93.60 plus 25%
$335.35 plus 28%
$836.27 plus 33%
$2,167.16 plus 35%
of excess over-
m-$41
一$209
-$721
-S1,688
-$3,477
-$7,510
But not over-
-$490
-$1,515
--$2,900
-$4,338
-$7,624
.$0.00 plus 10%
$33.40 plus 15%
$187.15 plus 25%
$533.40 plus 28%
$936.04 plus 33%
$2,020.42 plus 35%
of excess over-
--$156
-$490
-$1,515
-$2,900
-$4,338
-$7,624
TABLE 2-BIWEEKLY Payroll Period
(a) SINGLE person (including head of household)-
If the amount of wages (after
subtracting withholding allowances) The amount of income tax
(b) MARRIED person-
If the armount of wages (after
subtracting withholding allowances)
is:
Not over $312
Over--
$312
$981
$3,031
$5,800
$8,675
$15,248.
The amount of income tax
to withhold is:
$0
is:
to withhold is:
$0
Not over $83
Over--
$83
$417
$1,442
$3,377
$6,954
$15,019
But not over-
-$417
-$1,442
-$3,377
-$6,954
-$15,019
$0.00 plus 10%
$33.40 plus 15%
$187.15 plus 25%
$670.90 plus 28%
$1,672.46 plus 33%
$4,333.91 pius 35%
of excess over-
-$83
--$417
-$1,442
-$3,377
-%$6,954
$15,019
But not over
--$981
--$3,031
-%$45,800
-$8,675
一$15,248
.$0.00 plus 10%
$66.90 plus 15%
.$374.40 plus 25%
.$1,066.65 plus 28%
$1,871.65 plus 33%
.$4,040.74 plus 35%
of excess over-
-$312
-$981
--$3,031
-$5,800
-$8,675
--$15,248
TABLE 3-SEMIMONTHLY Payroll Period
(a) SINGLE person (including head of household)-
1i the amount of wages (after
subtracting withholding àllowances) The amount of income tax
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $338
Over
$338
$1,063
$3,283
$6,263
$9,398
$16,519
is:
Not over $90
to withhold is:
$0
The amount of income tax
to withhold is:
Over
But not over-
$90
$452
$1,563
$3,658
$7,533
$16,271
-$452
-$1,563
$3,658
-$7,533
-$16,271
$0.00 plus 10%
$36.20 plus 15%
$202.85 plus 25%
$726.60 plus 28%
$1,811.60 plus 33%
$4,695.14 plus 35%
of excess over-
-$90
-$452
-$1,563
$3,658
-$7,533
-$16,271
But not over
--$1,063
-$3,283
-$6,283
-$49,398
-$16,519
$0.00 pius 10%
.$72.50 plus 15%
$405.50 plus 25%
.$1,155.50 plus 28%
.$2,027.70 plus 33%
$4,377.63 plus 35%
of excess over-
-$338
-$1,063
-$43.283
-$6,283
-$9,398
-$16,519
TABLE 4-MONTHLY Payroll Period
(a) SINGLE person (including head of household)-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $179
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $675
Over-
$675
$2,125
$6,567
$12,567
$18,796
$33,038
The amount of income tax
to withhold is:
The amount of income tax
to withhold is:
so
$0
But not over-
-$904
-$3,125
-$7.317
-$15,067
$32.542
But not over-
--$2,125
-$6,567
-$12,567
-$18,796
$33,038
over-
$179
$804
$3,125
$7,317
$15,067
$32,542
$0.00 plus 10%
. $72.50 plus 15%
$405.65 plus 25%
$1,453.65 plus 28%
. $3,623.65 plus 33%
$9,390.40 plus 35%
of excess over-
-$179
$904
-$3,125
--$7,317
S15,067
-$32,542
$0.00 plus 10%
$145.00 plus 15%
$811.30 plus 25%
$2,311.30 plus 28%
4,055.42 plus 33%
$8,755.28 plus 35%
Of excess over-
-$675
-$2,125
-$6,567
-$12,567
-$18,796
--$33,038
Payroll Period
One Withholding
Allowance
Weekly
Biweekly
Semimonthly
Monthly
Quarterly
Semiannually.
Annually
Daily or miscellaneous (each day of the payroli
period)
24
73.08
146.15
158.33
316.67
950.00
1,900.00
3,800.00
14.62
Page 36
Publication 15 (2012)
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Transcribed Image Text:9:26
( Back FWT Table 2012-5.pdf Q
Percentage Method Tables for Income Tax Withholding
(For Wages Paid in 2012)
TABLE 1-WEEKLY Payroll Period
{a) SINGLE person (including head of household)--
If the amount of wages (after
subtracting withholding àllowances)
is:
Not over $41
Over-
$41
$209
$721
$1,688
$3,477
$7,510
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $156
Over-
$156
$490
$1,615
$2,900
$4,338
$7,624..
The amount of income tax
to withhold is:
The amount of income tax
to withhold is:
.$0
$0
But not over-
-$209
-$721
-$1,688
-%$43,477
-$7,510
$0.00 plus 10%
$16.80 plus 15%
$93.60 plus 25%
$335.35 plus 28%
$836.27 plus 33%
$2,167.16 plus 35%
of excess over-
m-$41
一$209
-$721
-S1,688
-$3,477
-$7,510
But not over-
-$490
-$1,515
--$2,900
-$4,338
-$7,624
.$0.00 plus 10%
$33.40 plus 15%
$187.15 plus 25%
$533.40 plus 28%
$936.04 plus 33%
$2,020.42 plus 35%
of excess over-
--$156
-$490
-$1,515
-$2,900
-$4,338
-$7,624
TABLE 2-BIWEEKLY Payroll Period
(a) SINGLE person (including head of household)-
If the amount of wages (after
subtracting withholding allowances) The amount of income tax
(b) MARRIED person-
If the armount of wages (after
subtracting withholding allowances)
is:
Not over $312
Over--
$312
$981
$3,031
$5,800
$8,675
$15,248.
The amount of income tax
to withhold is:
$0
is:
to withhold is:
$0
Not over $83
Over--
$83
$417
$1,442
$3,377
$6,954
$15,019
But not over-
-$417
-$1,442
-$3,377
-$6,954
-$15,019
$0.00 plus 10%
$33.40 plus 15%
$187.15 plus 25%
$670.90 plus 28%
$1,672.46 plus 33%
$4,333.91 pius 35%
of excess over-
-$83
--$417
-$1,442
-$3,377
-%$6,954
$15,019
But not over
--$981
--$3,031
-%$45,800
-$8,675
一$15,248
.$0.00 plus 10%
$66.90 plus 15%
.$374.40 plus 25%
.$1,066.65 plus 28%
$1,871.65 plus 33%
.$4,040.74 plus 35%
of excess over-
-$312
-$981
--$3,031
-$5,800
-$8,675
--$15,248
TABLE 3-SEMIMONTHLY Payroll Period
(a) SINGLE person (including head of household)-
1i the amount of wages (after
subtracting withholding àllowances) The amount of income tax
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $338
Over
$338
$1,063
$3,283
$6,263
$9,398
$16,519
is:
Not over $90
to withhold is:
$0
The amount of income tax
to withhold is:
Over
But not over-
$90
$452
$1,563
$3,658
$7,533
$16,271
-$452
-$1,563
$3,658
-$7,533
-$16,271
$0.00 plus 10%
$36.20 plus 15%
$202.85 plus 25%
$726.60 plus 28%
$1,811.60 plus 33%
$4,695.14 plus 35%
of excess over-
-$90
-$452
-$1,563
$3,658
-$7,533
-$16,271
But not over
--$1,063
-$3,283
-$6,283
-$49,398
-$16,519
$0.00 pius 10%
.$72.50 plus 15%
$405.50 plus 25%
.$1,155.50 plus 28%
.$2,027.70 plus 33%
$4,377.63 plus 35%
of excess over-
-$338
-$1,063
-$43.283
-$6,283
-$9,398
-$16,519
TABLE 4-MONTHLY Payroll Period
(a) SINGLE person (including head of household)-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $179
(b) MARRIED person-
If the amount of wages (after
subtracting withholding allowances)
is:
Not over $675
Over-
$675
$2,125
$6,567
$12,567
$18,796
$33,038
The amount of income tax
to withhold is:
The amount of income tax
to withhold is:
so
$0
But not over-
-$904
-$3,125
-$7.317
-$15,067
$32.542
But not over-
--$2,125
-$6,567
-$12,567
-$18,796
$33,038
over-
$179
$804
$3,125
$7,317
$15,067
$32,542
$0.00 plus 10%
. $72.50 plus 15%
$405.65 plus 25%
$1,453.65 plus 28%
. $3,623.65 plus 33%
$9,390.40 plus 35%
of excess over-
-$179
$904
-$3,125
--$7,317
S15,067
-$32,542
$0.00 plus 10%
$145.00 plus 15%
$811.30 plus 25%
$2,311.30 plus 28%
4,055.42 plus 33%
$8,755.28 plus 35%
Of excess over-
-$675
-$2,125
-$6,567
-$12,567
-$18,796
--$33,038
Payroll Period
One Withholding
Allowance
Weekly
Biweekly
Semimonthly
Monthly
Quarterly
Semiannually.
Annually
Daily or miscellaneous (each day of the payroli
period)
24
73.08
146.15
158.33
316.67
950.00
1,900.00
3,800.00
14.62
Page 36
Publication 15 (2012)
9.
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Calendar
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