Using the information from the Time Clerk's Report Nos. 48 and 49, the last pay for December and record the paychecks issued all employees. Also, record the employer's payroll taxes. . In this pay, O'Neill is paid his annual bonus of $95,000. This does not affect his group insurance coverage. For withholding purposes, the bonus is considered a supplemental payment and taxed at the supplemental rate of 22 percent. . O'Neill changed his SIMPLE contribution this pay to $2,000, which will reduce his salary for federal income tax purposes. To determine federal income tax on the remaining taxable portion of his regular salary, use the Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later - Biweekly Payroll Period - Standard columns. In calculating the tax, do not round the aggregate to the nearest earnings dollar. Group Life Insurance (1st picture, if necessary)