Madison is single and makes $540.75 a week.  If she claims 1 allowance, what is the tax amount withheld?

To calculate the tax amount withheld for Madison based on her weekly earnings and claiming 1 allowance, we'll use the IRS wage bracket method for federal income tax withholding. Since you didn't specify the year or provide specific tax tables, I'll explain the general steps for determining the withholding amount:

1. **Determine the taxable income**: Since Madison claims 1 allowance, this will reduce her taxable income. For 2023, each allowance is worth $84.62 per week.

2. **Calculate the income after allowance**:
   \[
   \text{Taxable income} = \$540.75 - \$84.62 = \$456.13
   \]

3. **Use the IRS tax tables**: Refer to the IRS wage bracket tables for a single filer, with 1 allowance, to find the exact withholding amount. The tax tables will give you the specific amount withheld based on her adjusted weekly taxable income of $456.13.

Since the exact tax tables aren't provided, this explanation provides a framework for determining the withholding amount. If you have a specific year in mind or access to the latest tables, we can use those for a precise figure.

Would you like more details or have any questions?

Here are some related questions you might consider:
1. How do federal tax brackets affect withholding amounts?
2. How do allowances impact taxable income and withholding?
3. What are the current tax rates for single filers?
4. How does claiming more allowances affect weekly take-home pay?
5. What are other common deductions from weekly paychecks besides federal withholding?

**Tip:** Always check the most current IRS tax tables or use a withholding calculator for precise amounts!

Madison is single and makes $540.75 a week. If she claims 1 allowance, what is the tax amount withheld?

Learn how to calculate the federal tax withholding for Madison, a single filer, who makes $540.75 per week and claims 1 allowance. This solution uses the IRS wage bracket method and explains how allowances affect taxable income. Perfect for students learning financial math.

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