Question

Darrel earned $2965 in gross pay over the last 2 weeks. How much income tax will be withheld from his paycheck this pay period? Use the table to answer the question. $ 2014 weekly tax table with all amounts in dollars and cents unless noted - first column If your taxable income is (first column Over, second column But not over), second column And your filing status is single (third column Base tax plus fourth column Rate times fifth column Amount over). First row Over 87, But not over 436, Base tax blank, Rate 10 percent, Amount over 87. Second row Over 436, But not over 1,506, Base tax 34.90, Rate 15 percent, Amount over 436. Third row Over 1,506, But not over 3,523, Base tax 195.40, Rate 25 percent, Amount over 1,506. Fourth row Over 3,523, But not over 7,254, Base tax 699.65, Rate 28 percent, Amount over 3,523.

Answer 1

$383.76 should be withheld from his $2965 gross pay over 2 weeks.

2014 WEEKLY TAX TABLE
OVER BUT NOT OVER BASE TAX RATE
87.00 436.00 - + 10% OVER 87
436.00 1,506.00 34.90 + 15% OVER 436
1,506.00 3,523.00 195.40 + 25% OVER 1506 3,523.00 7,254.00 699.65 + 28% OVER 3523

Since, $2965 is for 2 weeks, we need to divide his pay by 2 to get his weekly pay.

2965 / 2 = 1482.50 per week.

1482.50 is OVER 436 BUT NOT OVER 1506. Therefore, his base tax for the week is 34.90 + 15% OVER 436.

1482.50 - 436 = 1046.50 * 15% = 156.98 + 34.90 = 191.88 tax withheld for the week.

The tax withheld 191.88 should be multiplied by 2 to get the tax withheld for the pay period of 2 weeks.

191.88 * 2 = 383.76 should be withheld from his $2965 gross pay over the last 2 weeks.