maggie vitteta, single, works 40 hours per week at $12.00 an hour. how much is taken out for federal income tax with one withholding exemption? (use table 9.1 and table 9.2) (round your answer to the nearest cent.):  Amount: ??

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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maggie vitteta, single, works 40 hours per week at $12.00 an hour. how much is taken out for federal income tax with one withholding exemption? (use table 9.1 and table 9.2) (round your answer to the nearest cent.): 

Amount: ??

 

In table 9.1 which is withholding for one allowance. According to the table when people are weekly they get 79.80, but it is only the one withholding allowance. So if someone has withholding of 3, that person needs to take the value of one withholding and multiply it by 3. (79.80 * 3 = 239.4) and that's how much you will need to subtract from the gross pay. Once you have already subtracted the number (239.4) from the gross pay, you go to table 9.2 and calculate how much taxed you owe. It is very important that you take into account whether the person is married or single because they have different rates.https://images.app.goo.gl/CMJFp7rnwo4eSV8c9 https://images.app.goo.gl/qodj6fY7ohJSSUTQ7

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