Molly has biweekly gross earnings of $839. 52. By claiming 1 more withholding allowance, Molly would have $16 more in her take h

Question

2 years ago

6

ome pay. How many withholding allowances does Molly currently claim? a. 1 b. 2 c. 3 d. 4.

1 answer:

fredd [130] · Answer 1 · 2022-11-30T07:48:08+03:00

Molly currently claims 2 withholding allowances which can be determined by using rules of allowance.

<h2>Given that,</h2>

Molly has biweekly gross earnings of $839. 52.

By claiming 1 more withholding allowance,

Molly would have $16 more in her take-home pay.

<h3>We have to determine,</h3>

How many withholding allowances does Molly currently claim?

<h3>According to the question,</h3>

Molly has biweekly gross earnings of $839. 52.

By claiming 1 more withholding allowance,

Molly would have $16 more in her take-home pay.

The withholding allowance is used by a person to pay less amount of tax on his or her income to the government.

Molly has biweekly gross earnings of $839. 52.

By claiming 1 more withholding allowance,

Molly would have $16 more in her take-home pay.

Therefore,

It is given that Molly has taken 1 more withholding allowance to pay tax less by the amount of $16.

So he must have possessed at least 1 allowance previously and added 1 more.

So, the minimum number of allowance possessed by Molly = 2

Hence, Molly currently claims 2 withholding allowances.

For more details about Income Tax refer to the link given below.