Question

Merry Soy, married, earns a weekly salary of $830 and claims one withholding allowance. By the percentage method, how much income tax will be withheld? (Use tables in the text or the Handbook.)

Answer 1

Hello!

_____________________

The total amount of income tax to withhold is: 35.70 + 34.67 = 70.37$

Step-by-step explanation: Subtract this amount from the salary: 830 - 77.90 = 752.1 $. This is the amount subject to withholding.

The amount subject to withholding is between 521 and 1613$, which means that the income tax to withhold is: 35.70$ + 15% of excess over $521

Therefore, calculate the excess: 752.1 - 521 = 231.1$

Now, calculate the percentage: 231.1 × 15 ÷ 100 = 34.67$

Hope this helped you!