The medicare tax finances health insurance benefits

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Unformatted text preview: deceased worker. The Medicare tax finances health insurance benefits for people who are elderly or disabled. 316 Chapter 12 Payroll Accounting 308-337_CH12_868829.indd 316 9/15/05 11:44:56 AM SINGLE Persons—WEEKLY Payroll Period If the wages are – At least But less than And the number of withholding allowances claimed is – 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is – $0 55 60 65 70 $55 60 65 70 75 0 1 2 2 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 75 80 85 90 95 80 85 90 95 100 4 5 5 6 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 100 105 110 115 120 105 110 115 120 125 8 8 9 10 11 0 1 2 2 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 125 130 135 140 145 130 135 140 145 150 11 12 13 14 14 4 5 5 6 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 150 155 160 165 170 155 160 165 170 175 15 16 17 17 18 8 8 9 10 11 0 1 1 2 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 175 180 185 190 195 180 185 190 195 200 19 20 20 21 22 11 12 13 14 14 4 4 5 6 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 200 210 220 230 240 210 220 230 240 250 23 25 26 28 29 15 17 18 20 21 8 9 11 12 14 0 2 3 5 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 250 260 270 280 290 260 270 280 290 300 31 32 34 35 37 23 24 26 27 29 15 17 18 20 21 8 9 11 12 14 0 2 3 5 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 300 310 320 330 340 310 320 330 340 350 38 40 41 43 44 30 32 33 35 36 23 24 26 27 29 15 17 18 20 21 8 9 11 12 14 0 1 3 4 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MARRIED Persons—WEEKLY Payroll Period If the wages are – At least But less than And the number of withholding allowances claimed is – 0 1 2 3 4 5 6 7 8 9 AS YOU READ Key Point Form W-4 The Form W-4 indicates whether the employee is single or married. It also shows the number of withholding allowances. 10 The amount of income tax to be withheld is – $0 125 130 1...
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