Ask Experts Questions for FREE Help !
Ask
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #1

    Oct 17, 2007, 09:40 PM
    Wages and supplement
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Oct 18, 2007, 02:36 PM
    I do not know!
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #3

    Oct 18, 2007, 09:38 PM
    Quote Originally Posted by AtlantaTaxExpert
    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.
    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.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Oct 19, 2007, 03:12 PM
    See my PM.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Social security wages, medicare wages [ 3 Answers ]

Hi, I am an international student in the US on F-1 visa. I have filed federal tax returns twice and NY state tax returns once preciously. Both times my W-2 did not show social security wages or medicare wages (and the tax withheld for each of these). However, this year my W-2 shows figures on...

What's a good nutrition supplement? [ 6 Answers ]

Hello. Well I've never been good at taking the recommended amount of fruits and vegetables everyday, nearly my whole life. Some of it is becase there's lots of vegetables or fruits which I'm not quite fond of, even though I try. So overall, my health hasn't been at its best, since like I was a...

Supplement Income from home [ 1 Answers ]

I am now retired; however, did admistrative work for years. If there a company through which you could work on the internet that does not require you to pay anything. I would like very much to earn income by doing something I enjoy. Thanks.


View more questions Search