How QuickBooks calculates the federal withholding amount
How QuickBooks calculates the federal withholding amount
Gross Wages | 580.35 |
Less one semimonthly allowance | 120.83 |
Equals the taxable wages | 459.52 |
For this wage range, the tax is 15% of the amount over 110.00 | |
Less threshold | -110.00 |
Tax is 15% of | 349.52 |
Tax equals | 52.43 |
Rounded to next whole dollar | 52.00 |
KB ID# H_PAY_QB_CALC_FEDERAL_WITH