Concept Introduction
Wage Bracket Withholding Table: A wage bracket withholding table is a table including rows and columns which is used to compute federal income taxes that are withheld from the employees’ gross earnings by the employer. This table includes the wage bracket of an employee, withholding allowances that an employee claims and resulting federal income taxes based on these two factors.
Wage bracket withholding tables are particularly provided for employees’ payroll periods like weekly, bi-weekly, semimonthly, and monthly pay periods and the marital status of the employees i.e. single and married.
1.
To Compute: The amount of income tax that is withheld from the salary of an employee who is single with two withholding allowances and earns $725 per week.
2.
To Compute: The amount of income tax that is withheld from the salary of an employee who is single with no withholding allowances and earns $625 per week.
Want to see the full answer?
Check out a sample textbook solutionChapter 11 Solutions
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education