payroll Many Happy Returns Accountants Tax

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					                                                          Many Happy Returns Accountants
                                                               Tax Department Payroll
                                   Number of   Hourly   Regular Overtime
                        Name      Dependents   Wage     Hours     Hours     Gross Pay
                      Dwyer            2       $8.00      40       8
                      Smith            2       $7.25      40       8
                      Brown            2       $8.00      40       10
                      Look             3       $9.00      35       0
                      Thomas           1       $9.20      40       0
                      Gonzolaz         1       $10.00     40       4
                      Synder           4       $14.00     40       8
                      Franklin         0       $6.35      20       0
                      Kennedy         14       $7.25      38       0
                      Willson          0       $10.00     40       5
                      Johnson          2       $7.35      15       0
                      Schmitz          7       $8.20      10       0

Totals

Assumptions                                                                 Summary
Deduction per
Dependent                    50
Overtime Rate               1.5                                          Average Gross Pay
Withholding Tax         28.00%                                           Highest Gross Pay
Social Security Tax      7.65%                                           Lowest Gross Pay

Prepared by:                                                               Todays Date:

Notes:
Gross Pay       = Regular Hours x Hourly Wage + Overtime Hours x Hourly wage x Overtime Rate
Taxable Income = gross pay - the deduction per dependent x the number of dependents
Withholding Tax = Taxable Income x Withholding Tax Rate
Soc Sec Tax    = Taxable Income x Soc Sec Tax Rate
Net Pay        = Taxable Income - Withholding Tax + Soc Sec Tax
 ccountants
Payroll
                               Withholding
              Taxable Income       Tax       Soc Sec Tax   Net Pay




age Gross Pay
est Gross Pay
 st Gross Pay

                               1/14/2012



 Overtime Rate
dents

				
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posted:1/14/2012
language:English
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