!! Please Show ALL Work !!
!! Please answer C and D !!
George Clausen ( age 48 ) is employed by Kline Company and is paid an annual salary $42,536. He has just decided to join the company's Simple Retirement Account ( IRA form ) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent.
As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used.
A) what is the maximum that he can contribute into this retirement fund? $13,500 (correct).
B) what would be the company's contribution? $1,276.08 (correct).
note: for items c & d below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places.
C) what would be his weekly take-home pay if he contributes the maximum allowed retirement contribution (married filing jointly, wage-bracket method, and a 2.3% state income tax on total wages)?
D) what would be his weekly take-home pay without the retirement contribution deduction?
WEEKLY If the Adjusted Wage Married Filing Jointly Amount (line 1h) is Form W-4, Step 2 Standard Checkbox S But less withholding withholding wi At least than The Te SO $120 $120 $130 $130 $140 $140 $150 $150 $160 $160 $170 $170 $180 $180 $190 $190 $200 $200 $210 $210 $220 $220 $230 $230 $240 $240 $250 $250 $260 $260 $270 $270 $280 $280 $290 $290 $300 $300 $310 $310 $320 $8 $320 $330 $9 $330 $340 $10 $340 $350 $11 $350 $360 $12 $360 $370 $13 $370 $380 $14 $380 $390 $15 $390 $400 $16 $400 $410 $17 $410 $420 $18 $420 $430 $19 $430 $440 $20 $440 $450 $21 $450 $460 $22 $460 $470 $23 $470 $480 $25 $480 $490 $26 $490 $500 $27 $500 $510 $28 8698888888888888888888888888888888888888 68898&*%898888888888888 $510 $500 $510 S520 $530 $540 $550 $560 $570 $580 $590 $600 $610 $620 $630 $640 $650 $660 $670 $680 $690 $700 $710 $720 $730 $740 $750 $520 $530 $540 $550 $560 $570 $580 $590 $600 $610 $620 $630 $640 $650 $660 $670 $680 $690 $700 $710 $720 $730 $740 $750 $760 $3 $4 $5 $6 $7 $8 $9 $10 $11 $12 $13 $14 $15 $16 $17 $18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $28 $29 $31 $32 $33 $34 $35 $37 $38 $39 $40 $41 $43 $44 $45 $46 $47 $49 $50 $51 $52 $53 $55 $56 $57 $58 $37 $75 WEEKLY If the Adjusted Wage Married Filling Jointly Amount (line 1h) is Form W-4, Step 2 Standard Checkbox S But less withholding withholding wit At least than The $760 $770 $29 $59 $770 $780 $30 $61 $780 $790 $31 $62 $790 $800 $32 $63 $800 $810 $33 564 $810 $820 $34 $65 $820 $830 $35 $67 $830 $8.40 $36 $68 $840 $850 $69 $850 $860 $38 $70 $860 $870 $39 $71 $870 $880 $40 $73 S880 $890 $41 $74 $890 $900 $43 $900 $910 $44 $76 $910 $920 $45 $77 $920 $930 $46 $79 $930 $940 $47 $80 $940 $950 $49 $81 $950 $960 $50 $82 $960 $970 $83 $970 $980 $52 $85 $980 $990 $53 $86 $990 $1,000 $55 $87 $1,000 $1,010 $56 $88 $1,010 $1,020 $57 $90 $1,020 $1,030 $92 $1,030 $1,040 $59 $94 $1,040 $1,050 $61 $98 $1,050 $1,060 $99 $1,060 $1,070 $83 $ 101 $1,070 $1,080 $64 $103 $1,080 $1,090 $105 $1,090 $1,100 $67 $107 $1,100 $1,110 $68 $110 $1,110 $1,120 $69 $112 $1,120 $1,130 $70 $114 $1,130 $1,140 $71 $116 $1,140 $1,150 $73 $118 $1,150 $1,160 $74 $121 $51 $58 $65 $1,150 $1,160 $1,160 $1,170 $1,170 $1,180 $1,180 $1,190 $1,190 $1,200 $1,200 $1,210 $1,210 $1,220 $1,220 $1.230 $1,230 $1,240 $1,240 $1,250 $1,250 $1,260 $1,260 $1,270 $1,270 $1,280 $1,280 $1,290 $1,290 $1,300 $1,300 $1,310 $1,310 $1,320 $1,320 $1,330 $1,330 $1,340 $1,340 $1,350 $1,350 $1,360 $1,360 $1,370 $1,370 $1,380 $1,380 $1,390 $1,390 $1,400 $1,400 $1,410 $74 $75 $76 $77 $79 $80 $81 $82 $83 $85 $86 $87 $88 $89 $91 $92 $93 $94 $95 $97 $98 $99 $100 $101 $103 $ 104 $121 $123 $125 $127 $129 $132 $134 $136 $138 $140 $143 S145 $147 $149 $151 $154 $156 $158 $ 160 $162 $ 165 $167 $169 $171 $ 173 $176 WEEK If the Adjusted Wage Married Filing Jointly Amount (line 1h) is Form W-4. Step 2 Standard Checkbox But loss with holding withholding At least than $1,410 $1,420 $105 $178 $1,420 $1,430 $106 $180 $1,430 $1,440 $107 $182 $1,440 $1,450 $109 $184 $1,450 $1,460 $110 $187 $1,460 $1,470 $111 $189 $1,470 $1,480 $112 $191 $1,480 $1,490 $113 $193 $1,490 $1,500 $115 $195 $1,500 $1,510 $116 $198 $1,510 $1,520 $117 $200 $1,520 $1,530 $118 $202 $1,530 $1,540 $119 $204 $1,540 $1,550 $121 $206 $1,550 $1,560 $122 $209 $1,560 $1,570 $123 $211 $1,570 $1,580 $124 $213 $1,580 $1,590 $125 $215 $1,590 $1,600 $127 $217 $1,600 $1,610 $128 $220 $1,610 $1,620 $129 $222 $1,620 $1,630 $130 5224 $1,630 $1,640 $131 $226 $1,640 $1,650 $133 $228 $1,650 $1,660 5134 $231 $1,660 $1,670 $135 $233 $1,670 $1,680 $136 $235 $1,680 $1,690 $137 $237 $1,690 $1,700 $139 $239 $1,700 $1,710 $140 $242 $1,710 $1,720 $141 $244 $1,720 $1,730 $246 $1,730 $1,740 $143 $248 $1,740 $1,750 $145 $250 $1.750 $1,760 $146 $253 $1,760 $1,770 $147 $255 $1,770 $1,780 $148 $257 $1,780 $1,790 $149 $259 $1,790 $1,800 $151 $261 $1,800 $1,810 $152 $264 $142 $1,800 $1,810 $1,810 $1,820 $1,820 $1,830 $1,830 $1,840 $1,840 $1,850 $1,850 $1,860 $1,860 $1,870 $1,870 $1,880 $1,880 $1,890 $1,890 $1,900 $1,900 $1,910 $1,910 $1,920 $1,920 $1,930 $152 $153 $154 $155 $157 $158 $159 $ 160 $161 $163 $164 $165 $166 $264 $266 $268 $270 $272 $275 $277 $279 $281 $284 $286 $289 $291 George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,536. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used a. What is the maximum that he can contribute into this retirement fund? 13,500 b. What would be the company's contribution? 1,276,08 Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places What would be his weekly take home pay if he contributes the maximum allowed retirement contribution (married hiling jourtly, wage-bracket method, and a 2. stat Income tax on total wages)? Click here to access the Wage-Bracket Method Tobles. 468.98 X d. What would be his weekly take-home pay without the retirement contribution deduction? 702.57 X WEEKLY If the Adjusted Wage Married Filing Jointly Amount (line 1h) is Form W-4, Step 2 Standard Checkbox S But less withholding withholding wi At least than The Te SO $120 $120 $130 $130 $140 $140 $150 $150 $160 $160 $170 $170 $180 $180 $190 $190 $200 $200 $210 $210 $220 $220 $230 $230 $240 $240 $250 $250 $260 $260 $270 $270 $280 $280 $290 $290 $300 $300 $310 $310 $320 $8 $320 $330 $9 $330 $340 $10 $340 $350 $11 $350 $360 $12 $360 $370 $13 $370 $380 $14 $380 $390 $15 $390 $400 $16 $400 $410 $17 $410 $420 $18 $420 $430 $19 $430 $440 $20 $440 $450 $21 $450 $460 $22 $460 $470 $23 $470 $480 $25 $480 $490 $26 $490 $500 $27 $500 $510 $28 8698888888888888888888888888888888888888 68898&*%898888888888888 $510 $500 $510 S520 $530 $540 $550 $560 $570 $580 $590 $600 $610 $620 $630 $640 $650 $660 $670 $680 $690 $700 $710 $720 $730 $740 $750 $520 $530 $540 $550 $560 $570 $580 $590 $600 $610 $620 $630 $640 $650 $660 $670 $680 $690 $700 $710 $720 $730 $740 $750 $760 $3 $4 $5 $6 $7 $8 $9 $10 $11 $12 $13 $14 $15 $16 $17 $18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $28 $29 $31 $32 $33 $34 $35 $37 $38 $39 $40 $41 $43 $44 $45 $46 $47 $49 $50 $51 $52 $53 $55 $56 $57 $58 $37 $75 WEEKLY If the Adjusted Wage Married Filling Jointly Amount (line 1h) is Form W-4, Step 2 Standard Checkbox S But less withholding withholding wit At least than The $760 $770 $29 $59 $770 $780 $30 $61 $780 $790 $31 $62 $790 $800 $32 $63 $800 $810 $33 564 $810 $820 $34 $65 $820 $830 $35 $67 $830 $8.40 $36 $68 $840 $850 $69 $850 $860 $38 $70 $860 $870 $39 $71 $870 $880 $40 $73 S880 $890 $41 $74 $890 $900 $43 $900 $910 $44 $76 $910 $920 $45 $77 $920 $930 $46 $79 $930 $940 $47 $80 $940 $950 $49 $81 $950 $960 $50 $82 $960 $970 $83 $970 $980 $52 $85 $980 $990 $53 $86 $990 $1,000 $55 $87 $1,000 $1,010 $56 $88 $1,010 $1,020 $57 $90 $1,020 $1,030 $92 $1,030 $1,040 $59 $94 $1,040 $1,050 $61 $98 $1,050 $1,060 $99 $1,060 $1,070 $83 $ 101 $1,070 $1,080 $64 $103 $1,080 $1,090 $105 $1,090 $1,100 $67 $107 $1,100 $1,110 $68 $110 $1,110 $1,120 $69 $112 $1,120 $1,130 $70 $114 $1,130 $1,140 $71 $116 $1,140 $1,150 $73 $118 $1,150 $1,160 $74 $121 $51 $58 $65 $1,150 $1,160 $1,160 $1,170 $1,170 $1,180 $1,180 $1,190 $1,190 $1,200 $1,200 $1,210 $1,210 $1,220 $1,220 $1.230 $1,230 $1,240 $1,240 $1,250 $1,250 $1,260 $1,260 $1,270 $1,270 $1,280 $1,280 $1,290 $1,290 $1,300 $1,300 $1,310 $1,310 $1,320 $1,320 $1,330 $1,330 $1,340 $1,340 $1,350 $1,350 $1,360 $1,360 $1,370 $1,370 $1,380 $1,380 $1,390 $1,390 $1,400 $1,400 $1,410 $74 $75 $76 $77 $79 $80 $81 $82 $83 $85 $86 $87 $88 $89 $91 $92 $93 $94 $95 $97 $98 $99 $100 $101 $103 $ 104 $121 $123 $125 $127 $129 $132 $134 $136 $138 $140 $143 S145 $147 $149 $151 $154 $156 $158 $ 160 $162 $ 165 $167 $169 $171 $ 173 $176 WEEK If the Adjusted Wage Married Filing Jointly Amount (line 1h) is Form W-4. Step 2 Standard Checkbox But loss with holding withholding At least than $1,410 $1,420 $105 $178 $1,420 $1,430 $106 $180 $1,430 $1,440 $107 $182 $1,440 $1,450 $109 $184 $1,450 $1,460 $110 $187 $1,460 $1,470 $111 $189 $1,470 $1,480 $112 $191 $1,480 $1,490 $113 $193 $1,490 $1,500 $115 $195 $1,500 $1,510 $116 $198 $1,510 $1,520 $117 $200 $1,520 $1,530 $118 $202 $1,530 $1,540 $119 $204 $1,540 $1,550 $121 $206 $1,550 $1,560 $122 $209 $1,560 $1,570 $123 $211 $1,570 $1,580 $124 $213 $1,580 $1,590 $125 $215 $1,590 $1,600 $127 $217 $1,600 $1,610 $128 $220 $1,610 $1,620 $129 $222 $1,620 $1,630 $130 5224 $1,630 $1,640 $131 $226 $1,640 $1,650 $133 $228 $1,650 $1,660 5134 $231 $1,660 $1,670 $135 $233 $1,670 $1,680 $136 $235 $1,680 $1,690 $137 $237 $1,690 $1,700 $139 $239 $1,700 $1,710 $140 $242 $1,710 $1,720 $141 $244 $1,720 $1,730 $246 $1,730 $1,740 $143 $248 $1,740 $1,750 $145 $250 $1.750 $1,760 $146 $253 $1,760 $1,770 $147 $255 $1,770 $1,780 $148 $257 $1,780 $1,790 $149 $259 $1,790 $1,800 $151 $261 $1,800 $1,810 $152 $264 $142 $1,800 $1,810 $1,810 $1,820 $1,820 $1,830 $1,830 $1,840 $1,840 $1,850 $1,850 $1,860 $1,860 $1,870 $1,870 $1,880 $1,880 $1,890 $1,890 $1,900 $1,900 $1,910 $1,910 $1,920 $1,920 $1,930 $152 $153 $154 $155 $157 $158 $159 $ 160 $161 $163 $164 $165 $166 $264 $266 $268 $270 $272 $275 $277 $279 $281 $284 $286 $289 $291 George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,536. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used a. What is the maximum that he can contribute into this retirement fund? 13,500 b. What would be the company's contribution? 1,276,08 Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places What would be his weekly take home pay if he contributes the maximum allowed retirement contribution (married hiling jourtly, wage-bracket method, and a 2. stat Income tax on total wages)? Click here to access the Wage-Bracket Method Tobles. 468.98 X d. What would be his weekly take-home pay without the retirement contribution deduction? 702.57 X
