Kendall, who earned $128,400 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependen who are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables for automated systems. Required: a. What is Kendall's federal tax withholding for each pay period? b. What is Kendall's FICA withholding for each pay period? Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. a. Federal tax withholdings Amount
Kendall, who earned $128,400 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependen who are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables for automated systems. Required: a. What is Kendall's federal tax withholding for each pay period? b. What is Kendall's FICA withholding for each pay period? Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. a. Federal tax withholdings Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
M15.
Transcribed Image Text:Kendall, who earned $128,400 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependents
who are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables for
automated systems.
Required:
a. What is Kendall's federal tax withholding for each pay period?
b. What is Kendall's FICA withholding for each pay period?
Note: For all requirements, round your intermediate computations and final answers to 2 decimal places.
a. Federal tax withholdings
b. Total FICA withholding
Amount
Transcribed Image Text:2021 Percentage Method Tables for Automated Payroll Systems
STANDARD Withholding Rate Schedules
Form W-4, Step 2
(Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is
p 2, Checkbos, Withholding Rate Schedules
from 2020 or later and the box in Step 2 of Form W-4 is NOT checked)
(Use these if the Form W-4 is from 2020 or later and the box in Step 2 of
Form W-4 IS checked)
If the Adjusted Annual Wage
Amount (line 2a) is:
of the amount
that the
Adjusted
Annual Wage
exceeds
E
At least-
A
50
$12.200
$32,100
$93,250
$184,950
$342050
$.431.050
$640.500
50
$3.950
$13,900
$44475
$90,325
$168.875
$213.375
$527550
50
$10,200
$24,400
$64,400
$96.550
$175,100
$219,400
$533.300
But less than
B
The tentative
amount to
withhold is:
C
Married Filling Jointly
$12.200
$32.100
$93,250
$184,950
$342050
$431,050
$640.500
$0.00
$0.00
$1.990.00
$9328.00
$29.502.00
$67,206.00
$95,586.00
$168.993.50
$10.200
$24.400
$64.400
$96.550
$175,100
$219,600
5533.800
Single or Married Filling Separately
$3.950
$0.00
$13.900
$0.00
$995.00
664.00
$44,475
$90,325
$168,875
$14.751.00
$213.375 $.33.603.00
$527550
$47.843.00
$157.804.25
Head of Household
$0.00
50.00
$1,420.00
$6.220.00
Phas this
percentage-
D
$13,293.00
$32.145.00
$46385.00
$156.355.00
0%
10%
129
22%
24%
32%
35%
37%
0%
10%
129
22%
24%
32%
354
37%
0%
10%
12%
22%4
24%
32%
37%
50
$12,200
$32,100
$93,250
$184,950
$342050
$431050
$640,500
50
$3,950
$13,900
$44/475
$90,325
$168.875
$213,375
$527,550
50
$10.200
$ 24,400
$64,400
$ 96,350
$175,100
$219600
$533,800
If the Adjusted Annual Wage
Amount (line 2a) is:
But less than
At least-
A
SO
$12.550
$22.500
$ 53,075
$98,925
$177,475
$221,975
$326,700
50
$6.275
$11,250
326.338
$49,463
$18,718
$110,988
$268,075
50
$9,400
$16,500
$36,500
$52.575
$91,850
$114.100
$ 271.200
B
The tentative
amount to
withhold is
C
Married Filling Jointly
$12.550
$22.500
$53,075
$98,925
$177475
$221,975
$326,700
$11,250
$26,538
$49463
$88,738
$110,988
$268.075
$9,400
$16.500
$36,500
$32,575
$91,850
$ 114,100
$271,200
$0.00
$0.00
$995.00
$4,664.00
$ 14,751.00
$33,003.00
$4784300
$84,496.75
Single or Married Filling Separately
$6275
$000
30.00
$497.50
$2.332.00
$7.375.50
$ 16,80130
$23,921 50
$78.902.13
Head of Household
$0.00
Plus this
percentage-
D
$0.00
$710.00
$3,110.00
$6,646.50
$16.072.50
$23,192.50
$78,177.50
0%
10%
12%
22%
24%
32%
35%
37%
0%
109
12%
249
32%
35%
37%
0%
10%
129
22%
24%
32%
35%
37%
of the amount
that the
Adjusted
Annual Wage
exceeds---
E
50
$12.550
$22.500
$53.075
$98.925
$177475
$221.975
$326.700
50
$6275
$11.250
$26.538
$49463
$88,738
$110,988
$268,075
50
$9,400
$16.500
$36.500
$52.575
$91,350
$ 114,100
$271.200
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