Question

How do I find the federal income withholding of a weekly salary of $1,301 a week?

Answer 1

Answer:

Small businesses need to calculate withholding tax to know how much money they should take from employee paychecks to send to the Internal Revenue Service to cover tax payments. Employers calculate withholding tax by referring to an employee’s Form W-4 and the IRS’s income tax withholding table to determine how much federal income tax they should withhold from the employee’s salary or wages. There are two main methods small businesses can use to calculate withholding tax: the wage bracket method and the percentage method. To calculate withholding tax, you’ll need the following information: