Use the percentage method to compute the federal income taxes to

Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. 4–2A. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Amoroso, A. M 4 $1,610 weekly 2 Finley, R. S 0 825 biweekly 3 Gluck, E. S 5 9,630 quarterly 4 Quinn, S. M 8 925 semimonthly 5 Treave, Y. M 3 2,875 monthly Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee. 4–4A. Employee Marital Status No. of Withholding Allowances Payroll Period W = Weekly S = Semimonthly M = Monthly D = Daily Wage Amount to Be Withheld Hal Bower M 1 W $1,350 Ruth Cramden S 1 W 590 Gil Jones S 3 W 675 Teresa Kern M 6 M 4,090 Ruby Long M 2 M 2,730 Katie Luis M 8 S 955 Susan Martin S 1 D 96 *Jim Singer S 4 S 2,610 Martin Torres M 4 M 3,215 *Must use percentage method (Jim Singer ONLY) Damerly Company wants to give a holiday bonus check of $250 to each employee. Since it wants the check amount to be $250, it will need to gross up the amount of the bonus. Calculate the withholding taxes and gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides, being subject to social security taxes and federal income tax (supplemental rate), a 7% California income tax must be withheld on supplemental payments. 4–6A. (a) $250 1 – 0.25 (supplemental federal rate) – 0.062 (OASDI) – 0.0145 (HI) – 0.07 (California tax) = ___________ (b) $250/(1 – 0.3965) = __________ (c) Gross bonus amount __________ Federal income tax withheld __________ OASDI tax withheld ____________ HI tax withheld ____________ California income tax withheld ___________ Take-home bonus check __________ George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s Simple Retirement Account (IRA form) and has a few questions. Answer the following: 4–11A. (a) Clausen’s maximum contribution _____________ (b) Kline Company’s contribution (3%) _____________ (c) Clausen’s take-home pay with the retirement contribution deducted: Weekly pay……………………………………………………. $ 820.00 FICA—OASDI…………………………………………………….. ______ FICA—HI…………………………………………………………… ______ FIT ($820.00 – $230.77 = $589.23 taxable)…………… _________* State income tax ($820.00 × 0.023)……………………… ______ Retirement contribution ($12,000 ÷ 52)………… …. _______ Take-home pay………………………………………………. _______ *Married, 2 allowances. (d) Clausen’s take-home pay without the retirement contribution deducted: Weekly pay………………………………………………….. $820.00 FICA—OASDI…………………………………………………. ______ FICA—HI……………………………………………………….. ______ FIT (on $820.00)……………………………………………… ______ State income tax ($820.00 × 0.023)…………………… ______ Take-home pay………………………………………………. ______

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