Find all the deductions asked for, and the final net pay. Social Security is 6.2% of the first $97,500. Medicare is 1.45% of all income. Use the tax tables on pages 6-7 for federal tax. The state tax is 2% of gross pay, and the local tax is 1.5% of gross pay. 1. Terrence Hall is single and claims one allowance. Dept Employee Check Number Gross Pay Net Pay 23 FIT Terence Hall SS 463 $598.00 f Medicare State Local Medical Union Dues Others C d. $15.50 $14.00 $6.00 2. Jeri Lammers, a part-time teller at Second State Bank, is married and claims 3 allowances. Dept Employee 448 Jeri Lammers Check Number Gross Pay Net Pay 3205 FIT SS Medicare $735.00 State Local b. C d. Medical Union Dues Others $32.00 3. Lynn Golding is employed as a payroll supervisor and earns $18 per hour. In this most recent pay period, she worked 40 hours. She is married and claims 6 allowances. The state tax is 3.0% of gross earnings, and the local tax is 1.5% of gross earnings. Lynn pays $35 for medical insurance and $17 in union dues. Dept Employee PAYR Lynn Golding Check Number Gross Pay Net Pay FIT 355-5887-01 a SS Medicare State Local Medical Union Dues Others d. 0.00 Read the section below and complete If you have ever received a paycheck, was the amount what you expected? Jack Myers was surprised to see that his employer has deducted approximately 19% from his gross income. July 20, 20-- Dave's Drilling and Equipment 10406 Overlook Kentville, MI 99909 Pay to: Jack Myers Five hundred ten- Memo: weekly pay $510.43 -DOLLARS 43/100 CENTS Signature: Dave Davey Federal Income Tax - Federal taxes provide money to pay for federal government agencies and services. The law requires employers to withhold a certain amount of your pay for federal income tax (FIT). The Internal Revenue Service (IRS) provides employers with tables that show how much money to withhold. The amount withheld depends on your income, marital status, and withholding allowances. You may claim one allowance for yourself and if you are married, one allowance for your spouse. You may claim additional allowances for any others you support. Example 1-Determining Your Federal Income Tax Carla Good is an actuary. Her gross pay for this week is $425.88. She is married and claims 2 allowances for herself and her husband. What amount will Carla's employer withhold from her pay for FIT? (Use the Married Person Weekly Payroll table on pages 7-8) Step 1: Step 2: Find the income range from the table. (It is at least $420 but less than $430). Find the column for 2 allowances. Step 3: The amount of federal income tax to be withheld is $14.00. . 2 And the number of withholding allowances claimed le . 5 The amount of income tax to be withheld 7 E the wages ar At least But leen than 1 10 20000 00000 00000 0000000000 00000 00000 00000 00000 00000 00000 00000 00000 00000 20000 0000000000 00000 00000 00000 00000 00000 00000 0000000000 00000 00000 OOOD 20000 00000 00000 00000 00000 00000 00000 00000 00000 00000 00000 00000 0000 ANTRE goooo 00000 00000 00000 00000 00000 00000 00000 00000 0000000000 00 20000 GOOD 00000 0000 00000 0000000000 0000000000 000000 goooo ooooo ooooo 00000 00000 00000 0000000000 0000022 C goooo Hoooo 00000 00000 00000 00000 00000000 goooo oooo* ***** *0000 00000 0000 221 222 20000 0000000000 0000000000 12345678990DN 2000000000 0000000012345678910 ** ** REAR ARE RE E E E E E E 88888888 CBBE BREAK ERRER ER ER EN