Problem 9-2. Withholding Methods (LO 9.1) Ralph and Kathy Gump are married with one 20 -year-old dependent child. Ralph expects to earn $98,000 (paid monthly) and estimates their itemizod deductions to be $29,500 for the year. Kathy expects to earn wages of $54,000. The Gumps expect to have for AGt deductions of 53,600. Use Form W4 and worksheet to determane what Ralph should report on lines 3,4(b),4(b), and 4(c) of Form W4, The amount from the table on page 4 of the instructions regarding two jobs is $8,340. If your answer amount is zero, enter " 0 ". Round your answers to two decimal places, If required. Step 2: Complete this step if you (1) hold more than one job at a time, or (2) are married filing jointly and your spouse also works. Multiple Jobs. The correct amount of withtiolding depends on income earned from all of these jobs. or Spouse. Do only one of the following. Works (a) Use the estimator at wwwirs.gov/W4App for most accurate withholding for this step (and Steps 3 -4): or: (b) Use the Multiple Jobs Workshect on poge 3 and enter the result in 5 tep 4 (c) below for roughly accurate withholding; or (c) If there are only two jobs total, you may check this box, Do the same on Form W.4 for the other job. This option is accurate for jobs with similar pay; otherwise, more tax than necessary may be withheld . TIP: To be accurate, submit a 2021 Form W-4 for all other jobs. If you (or your spouse) hawe self-employment income, including as an independent contractor, use the estimator. Complete Steps 3-4(b) on Form W-4 for only ONE of these jobs. Leave those steps blank for the other jobs. (Your withholding will be most accurate if you complete Steps 34(b) on the Form W-4 for the highest paying job.) c. Extra withholding. Enter any additional tax you want withheld each pay period . Under penaities of perjury, I deciare that this certificate, to the best of my knowledge and belief, is true, correct, and complete. Problem 9-2. Withholding Methods (LO 9.1) Ralph and Kathy Gump are married with one 20 -year-old dependent child. Ralph expects to earn $98,000 (paid monthly) and estimates their itemizod deductions to be $29,500 for the year. Kathy expects to earn wages of $54,000. The Gumps expect to have for AGt deductions of 53,600. Use Form W4 and worksheet to determane what Ralph should report on lines 3,4(b),4(b), and 4(c) of Form W4, The amount from the table on page 4 of the instructions regarding two jobs is $8,340. If your answer amount is zero, enter " 0 ". Round your answers to two decimal places, If required. Step 2: Complete this step if you (1) hold more than one job at a time, or (2) are married filing jointly and your spouse also works. Multiple Jobs. The correct amount of withtiolding depends on income earned from all of these jobs. or Spouse. Do only one of the following. Works (a) Use the estimator at wwwirs.gov/W4App for most accurate withholding for this step (and Steps 3 -4): or: (b) Use the Multiple Jobs Workshect on poge 3 and enter the result in 5 tep 4 (c) below for roughly accurate withholding; or (c) If there are only two jobs total, you may check this box, Do the same on Form W.4 for the other job. This option is accurate for jobs with similar pay; otherwise, more tax than necessary may be withheld . TIP: To be accurate, submit a 2021 Form W-4 for all other jobs. If you (or your spouse) hawe self-employment income, including as an independent contractor, use the estimator. Complete Steps 3-4(b) on Form W-4 for only ONE of these jobs. Leave those steps blank for the other jobs. (Your withholding will be most accurate if you complete Steps 34(b) on the Form W-4 for the highest paying job.) c. Extra withholding. Enter any additional tax you want withheld each pay period . Under penaities of perjury, I deciare that this certificate, to the best of my knowledge and belief, is true, correct, and complete