Olga earned $1,350.00 during the most recent weekly pay period. She is single with 2...

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Accounting

Olga earned $1,350.00 during the most recent weekly pay period. She is single with 2 withholding allowances and no pre-tax deductions. Using the percentage method, compute Olgas federal income tax for the period. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

Table 5. Percentage Method-2018 Amount for one Withholding Allowance

Payroll Period One Withholding Allowance
Weekly $79.80
Biweekly 159.60
Semimonthly 172.90
Monthly 345.80
Quarterly 1,037.50
Semiannually 2,075.00
Annually 4,150.00
Daily or miscellaneous (each day of the payroll period) 16.00

Percentage Method Tables for Income Tax Withholding
(For Wages Paid in 2018)
TABLE 1-WEEKLY Payroll Period
(a) SINGLE person (including head of household) (b) MARRIED person
If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is: If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is:
Not over $71...... $0 Not over $222...... $0
Over But not over of excess over Over But not over of excess over
$ 71 $ 254 $ 0.00 plus 10 % $ 71 $ 222 $ 588 $ 0.00 plus 10 % $ 222
$ 254 $ 815 $ 18.30 plus 12 % $ 254 $ 588 $ 1,711 $ 36.60 plus 12 % $ 588
$ 815 $ 1,658 $ 85.62 plus 22 % $ 815 $ 1,711 $ 3,395 $ 171.36 plus 22 % $ 1,711
$ 1,658 $ 3,100 $ 271.07 plus 24 % $ 1,658 $ 3,395 $ 6,280 $ 541.84 plus 24 % $ 3,395
$ 3,100 $ 3,917 $ 617.16 plus 32 % $ 3,100 $ 6,280 $ 7,914 $ 1,234,24 plus 32 % $ 6,280
$ 3,917 $ 9,687 $ 878.60 plus 35 % $ 3,917 $ 7,914 $ 11,761 $ 1,757.12 plus 35 % $ 7,914
$ 9,687 $ 2,898.10 plus 37 % $ 9,687 $ 11,761 $ 3,103.57 plus 37 % $ 11,761

Multiple Choice

  • $187.69

  • $249.01

  • $168.21

  • $224.51

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