accountingdsp2
Lady9292The 2 methods of calculating the Federal Income Tac withholding is the wage bracket and percentage method and based on the number of employees indicated which method should be used. I feel that the percentage method is the most common method used by employers.
Hourly
Rob A. Mangino
Single
1 dependent
40*8.50=340(total earnings)
23=(FIT)
340*0.0307=10.44(SIT)
340*0.0135=4.59(CIT)
340(total earnings)-20(simple deductions) = 320
10 years ago
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