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    Trishala Raj's Avatar
    Trishala Raj Posts: 95, Reputation: 1
    Junior Member
     
    #1

    Sep 17, 2009, 09:31 AM
    Payroll taxes- Semi monthly
    Hi,

    Can someone help me to calculate the payroll taxes for a Single , who is a student with allowances 2 on his W4 and he is paid Semi monthly. He is from Texas.

    Below is what I have calculated the taxes from PUB15 T page 15.

    Is this calculation right? How often should the payroll tax be given to IRS? Monthly or Quartely?

    Pay date gross amount Federal Tax withholding Net amount Payment to IRS

    15.Jun.09 750.00 15.00 735.00
    30.Jun.09 750.00 15.00 735.00
    15.Jul.09 750.00 15.00 735.00
    31.Jul.09 750.00 15.00 735.00
    15.Aug.09 750.00 15.00 735.00
    31.Aug.09 750.00 15.00 735.00
    15.Sep.09 1000.00 51.00 949.00

    Thanks in advance.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Sep 17, 2009, 01:21 PM
    Looks okay to me. The amount withheld for federal income taxes ($15 per 15-day pay period) IS sufficient to cover his federal tax liability on $18,000 annual pay.
    Trishala Raj's Avatar
    Trishala Raj Posts: 95, Reputation: 1
    Junior Member
     
    #3

    Sep 17, 2009, 02:21 PM

    Thank you :-)
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #4

    Sep 19, 2009, 08:12 PM

    Is the individual an International student or a U.S. person? For an international student $15 per 15 days may not be sufficient; depends upon the itemized deduction and treaty deduction.
    Trishala Raj's Avatar
    Trishala Raj Posts: 95, Reputation: 1
    Junior Member
     
    #5

    Sep 20, 2009, 05:52 AM

    He is a student from India and on F1 visa. Then how do I calculate the withholding?

    Thanks.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #6

    Sep 21, 2009, 11:20 AM
    The $15 per 15 day withholding is STILL sufficient, because an Indian student can claim the standard deduction under the U.S.-India tax treaty, so his return on Form 1040NR-EZ is essentually the same as a U.S. person who files Form 1040EZ.
    Trishala Raj's Avatar
    Trishala Raj Posts: 95, Reputation: 1
    Junior Member
     
    #7

    Sep 21, 2009, 02:37 PM

    Thanks. I appreciate your response :-)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #8

    Sep 22, 2009, 11:40 AM
    Glad to help!

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