Question

In: Accounting

1- Please provide examples and guidance Lauprechta Inc. has the following employees on payroll: Assume that...

1- Please provide examples and guidance

Lauprechta Inc. has the following employees on payroll: Assume that the employer uses the percentage method of withholding.

Complete the table for taxes to be withheld for each pay period. (Round your intermediate computations and final answers to 2 decimal places.)

Semimonthly Payroll Withholding Allowances Marital Status
Naila $ 3,600 2 Married
Wilfred $ 4,700 1 Married
Byron $ 2,600 4 Single
Annie $ 3,000 3 Single
Employee Federal Withholding Tax Social Security Tax Medicare Tax Total Taxes Withheld
Naila $ $ $ $
Wilfred $
Byron $
Annie $

Solutions

Expert Solution

NALIA total taxes with held 223.20+52.20+502.92 = 778.32 THE SAME APPLIES TO ALL OTHER EMPLOYEES.

WILFRED

BYRON

ANNIE

SOCIAL SECURITY TAX@ 6.2 AND MEDICARE AT @1.45% OF SEMI-MONTHLY PAYROLL.

SOURCE LINKS

https://onpay.com/payroll-calculator-tax-rates FOR CALCULATION OF TAXES.

https://www.irs.gov/taxtopics/tc751 FOR SOCIAL SECURITY TAXES AND MEDICARE

HOPE THAT HELPED. PLEASE SHARE YOUR FEEDBACK. THANK YOU.

ekkarill92 answered 1 year ago
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