I want to know do I add up all my employees salaries and times it by 8 percent to get the supplement wage or do I add the regular wage by 8 percent to get the supplement wage
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I want to know do I add up all my employees salaries and times it by 8 percent to get the supplement wage or do I add the regular wage by 8 percent to get the supplement wage
I do not know!
The names of the employees of Cox tire and their regular salaries are shown in following payroll register. Note that Hill and Van are paid monthly on the last pay day, while all the other are paid weekly.Quote:
Originally Posted by AtlantaTaxExpert
In addidtion to the regular salaries the company pays an annual bonus based on the amount of earnings for the year. For the cureent year, the bonus amounts to 8% of the annual salary paid to each employees. The bonus and the amount of the regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year.
Prepare the payroll for the period ending December 30, showing the following for each employee:
Use the wage bracket method to withhold federal income tax from the regular salaries/
Withhold a flat 25% on the annual bonus.
Total salaries and bonuses are suject to a 2 percent state income tax and a 1 percent city income tax.
I was asking how do I find the supp what do I do. Please explain it to me.
See my PM.
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