Use (a) the percentage method and (b) the wage bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee.

F 1 Use the following rates, ceiling, and maximum taxes in your assignments unless otherwise instructed. 2. 3 Employee and Employer OASDI: 6.20% $137,700 $8,537.40 4 Employee and Employer HI: 1.45% no limit no maximum 5 Self-employed OASDI: 12.40% $137,700 $17,074.80 6 Self-employed HI: 2.90% no limit no maximum 7 For rounding rules, refer to page 2-35 in your text. 10 11 Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. 12 15 ptt 13 No. of Withholdin Marital Percentge Method Wage- Bracket Method 14 Status 15 S 16 S Employee Louis, S. Hanks, X. Gillespie H. Tromley, P. Farley, R. Allowances N/A N/A N/A N/A N/A Gross Wage or Salary $1,040 weekly 1,910 weekly 1,890 biweekly 2,315 semimonthly 3,200 monthly MEJ ME) 18 19 MEJ F 1 Use the following rates, ceiling, and maximum taxes in your assignments unless otherwise instructed. 2. 3 Employee and Employer OASDI: 6.20% $137,700 $8,537.40 4 Employee and Employer HI: 1.45% no limit no maximum 5 Self-employed OASDI: 12.40% $137,700 $17,074.80 6 Self-employed HI: 2.90% no limit no maximum 7 For rounding rules, refer to page 2-35 in your text. 10 11 Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. 12 15 ptt 13 No. of Withholdin Marital Percentge Method Wage- Bracket Method 14 Status 15 S 16 S Employee Louis, S. Hanks, X. Gillespie H. Tromley, P. Farley, R. Allowances N/A N/A N/A N/A N/A Gross Wage or Salary $1,040 weekly 1,910 weekly 1,890 biweekly 2,315 semimonthly 3,200 monthly MEJ ME) 18 19 MEJ