6) Irene Farley earns a semimonthly salary of $7714.27. She has a $100 adjustmen

Business & Finance
Tutor: None Selected Time limit: 1 Day

6) Irene Farley earns a semimonthly salary of $7714.27. She has a $100 adjustment-to-income flexible benefits package, is married, and claims 4 withholding allowances. Find the federal tax withholding to be deducted from her semimonthly paycheck using the percentage method tables. 

A) $1350.93 

B) $3110.17 

C) $1378.93 

D) $1528.26

Apr 26th, 2015

Adjustment to income flexible benefit: pre tax dollars

payroll period: semimonthly 166.70 per withholding allowance x 4 = 666.8 reduction

Semimonthly, 6947.47: 1224.45+.28*(6947.47-6658)

=1305.50

http://www.irs.gov/pub/irs-pdf/p15.pdf

I'm not sure what tax tables you are supposed to use, but this is how you can calculate it. 

Apr 26th, 2015

THE CHART FOR 2012 mini_bus_math_module_62.pdf OPEN FILE AND GO TO NUMBER 6

Apr 26th, 2015

A) 1350.93

Wages : 7714.27

Less: 4 allowances @ 158.33 = (633.32)

Less: fed tax free benefit (100)

6,980.95 to use for tax tables

1,155.50 + .28(6980.95-6283)

Apr 26th, 2015

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