# 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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