Social State Federal

Regular Overtime Regular Overtime Taxable Medicare Federal Income 401 (k) Charitable Total
Gross Pay Security Income W/H Net Pay
Pay Rate Pay Rate Hours Hours pay Tax Tax Deduction Contribution Deductions
Tax Tax Allowances
6.20% 1.45% 5.00%
Monthly SS Wage Base 10,600.0

Employee

Hunter Cranston 18 27 141 0 2,538.00 157.36 2,380.64 36.80 119.03 269.80 152.28 20.00 755.27 500.00 2,282.73
Allison Harrison 24 36 113 1 2,748.00 170.38 2,577.62 39.85 128.88 293.44 137.40 20.00 789.94 500.00 1,958.06
John Parker n/a n/a n/a n/a 17,033.33 1,056.07 15,977.27 246.98 798.86 3,714.49 - 100.00 5,916.40 333.33 11,116.93
Pierre Sternberg n/a n/a n/a n/a 9,316.67 577.63 8,739.03 135.09 436.95 1,621.50 931.67 - 3,702.85 333.33 5,613.82

Monthly Income tax brackets

4. John Parker Single Married
Bracket Tax rate Tax amount Bracket Tax rate Tax amount
793.75 10% 79.375 793.75 10% 79.375
2,431.17 12% 291.74 2,431.17 12% 291.74
3649.92 22% 802.9816667 3649.92 22% 802.98166667
6249.92 24% 1499.98 6249.92 24% 1499.98
3,251.29 32% 1040.4128 3541.58 32% 1133.3066667
16,376.04 3,714.49 3,807.38

1. Hunter Cranston Tax computation

793.75 79.375
NOTES 1586.89 190.42728
1 State Income Tax is 5% of the taxable pay 2,380.64 269.80
2 Social Security Tax is 6.2% of the gross income
3 Medicare Tax is 1.45% of the gross income
4 Weekly 401 (k) Deduction is 6% of the gross pay 2. Allison Harrison Tax computation
5 Charitable Contribution is $5 per week 793.75 79.375
6 SUTA tax: This is unemployement tax paid by employers only, except for the states of Alaska, New Jesry and Pennyslavania 1783.874 214.06488
where employees pay the unemployment tax as well. In this case, Ellispses Corp is in Virginia which does not require 2,577.62 293.44
employees to pay unmployment tax. Therefore Allison Harrison will not be charged SUTA tax in her December payroll
3. Pierre Sternberg Tax computation
793.75 79.375
2431.17 291.74
3649.92 802.98
1864.20 447.408
8,739.03 1,621.50
REFERENCES:
1.Taxable Income Brackets: https://www.cnbc.com/2019/02/07/how-to-find-out-what-tax-bracket-youre-in-under-the-new-tax-law.html

2. Withholding Allowances: https://www.irs.gov/pub/irs-pdf/fw4.pdf