The names of the employees of Hogan Thrift Shop are listed on the following payr
ID: 2469709 • Letter: T
Question
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 18, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. I need to calculate the FIT using the 2014 percentage method. Please help and explain. John, Matthew, Married 3 allowences $2,272.00 earnings
Explanation / Answer
ANS;
TOTAL
0ssdi
HI
fit
sit
cit
Net pay
John, Matthew
m
3
2,200.00
0
31.90
322.67
44
33
1768.43
Smith, Jennifer
s
1
275.00
17.05
3.99
16
5.50
4.13
225.33
Bullen, Catherine
m
0
250.00
15.50
3.63
10.00
5
3.75
212.12
Matthews, Mary
s
3
320.25
19.86
4.64
7
6.41
4.80
277.54
Hadt, Bonnie
s
1
450.00
27.90
6.53
43
9
6.75
356.82
Camp, Sean S
s
2
560.50
34.75
8.13
50
11.20
8.41
448.00
Wilson, Helen
s
1
475.50
29.48
6.89
46
9.50
7.13
376.49
Gleason, Jose
m
4
890.00
55.18
12.90
66
17.80
13.35
72.76
Totals
5421.25
199.72
78.62
560.67
108.43
81.32
4392.49
OASDI Taxes
A) OASDI taxable earnings $ = 3221.25
B) OASDI taxes $ = 199.72
HI Taxes
C) HI taxable earnings$ == 5421.25
D) HI taxes $ = 78.61
TOTAL
0ssdi
HI
fit
sit
cit
Net pay
John, Matthew
m
3
2,200.00
0
31.90
322.67
44
33
1768.43
Smith, Jennifer
s
1
275.00
17.05
3.99
16
5.50
4.13
225.33
Bullen, Catherine
m
0
250.00
15.50
3.63
10.00
5
3.75
212.12
Matthews, Mary
s
3
320.25
19.86
4.64
7
6.41
4.80
277.54
Hadt, Bonnie
s
1
450.00
27.90
6.53
43
9
6.75
356.82
Camp, Sean S
s
2
560.50
34.75
8.13
50
11.20
8.41
448.00
Wilson, Helen
s
1
475.50
29.48
6.89
46
9.50
7.13
376.49
Gleason, Jose
m
4
890.00
55.18
12.90
66
17.80
13.35
72.76
Totals
5421.25
199.72
78.62
560.67
108.43
81.32
4392.49