Calculate and Document Federal and State Income Tax WithholdingCalculate federal and state income...
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Calculate and Document Federal and State Income Tax WithholdingCalculate federal and state income tax withholding for a number of employees of TCLH Industries, a manufacturer of cleaning products. Use the wagebracket method when possible and the percentage method in all other instances. The state income tax withholding rate is of taxable pay which is the same for federal and state income tax withholding Then continue to fill out the payroll register and the employee earnings records based on your calculations Zachary Fox does not make any voluntary deductions that impact earnings subject to federal income tax withholding. He files as married filing jointly on his tax return, and his weekly gross pay was $ When completing form W Zachary checked box c entered $ in Step of the form, and left Step blank Calvin Bell makes a k retirement plan contribution of of gross pay. He is single, claims two federal withholding allowances and one state withholding allowance, and his weekly gross pay was $ David Alexander makes a k retirement plan contribution of of gross pay. He is single, claims one withholding allowance for both federal and state taxes, and his weekly gross pay was $ Michael Sierra contributes $ to a flexible spending account each period. He is married, claims four federal withholding allowances and three state withholding allowances, and his weekly gross pay was $NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Using publication T federal tax withholding methods for use in
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