Note Use the Tax Tables to calculate the answers to the pro.pdf
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The document provides a calculation scenario for determining Mary Matthews' take-home pay during a biweekly pay period, considering her earnings and contributions to her 401k. It specifies that only social security and federal income taxes apply to her pay, and she is married filing jointly. The wage bracket method from the 2022 tax tables should be used for the calculations.
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Note Use the Tax Tables to calculate the answers to the pro.pdf
- 1. Note: Use the Tax Tables to calculate the answers to the problems listed. Mary Matthews made $1,150 during a biweekly pay period. Only social security (fully taxable) and federal income taxes attach to her pay. Matthews contributes $100 from each biweekly pay to her company's 401k. Determine Matthews' take home pay if she is married filing jointly. (Use wage bracket method) Round your answer to two decimal places. $2022 Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later BIWEEKLY Payroll Period