Monday, 25 November 2019

Refer to the partially completed payroll register which you worked on at the end of Chapter 3. You will now

Refer to the partially completed payroll register which you worked on at the end of Chapter 3. You will now determine the amount of income tax to withhold for each employee, proceeding as follows: 1. In the appropriate columns of your payroll register, record the marital status and number of withholding allowances claimed for each employee, using the information provided. 2. Record the payroll deductions for the SIMPLE plan that the employer has established for participating employees. All of the employees are participating, and their weekly contributions are listed below. The tax deferral on these deductions applies only to the federal income tax. 3. Record the amount of federal income taxes using the wage-bracket method. 4. Record the state income taxes on the gross weekly earnings for each employee. The rate is 3.07% for the state of Pennsylvania. 5. Record the city income taxes on the gross weekly earnings of each employee. The rate is 3% for the city of Pittsburgh residents. Time Card No. Marital Status No. of Allowances SIMPLE Deductions 11 S 1 $20 12 S 0 50 13 M 2 40 21 M 4 50 22 S 2 20 31 M 3 40 32 M 6 50 33 S 1 60 51 M 5 30 99 M 7 80

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