Question: The primary difference between the percentage method and the wage-bracket method of withholding federal income tax is: a.they are simply different ways to calculate tax;

The primary difference between the percentage method and the wage-bracket method of withholding federal income tax is:

a.they are simply different ways to calculate tax; both consider marital status and take into account the standard deduction.

b.the percentage method does not take into account the standard deduction.

c.the wage-bracket method is much more complicated.

d.the percentage method does not differentiate between married and unmarried.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!