Analysis of Tax Withholding

In: Business and Management

Submitted By goldenpeach
Words 4382
Pages 18
Smith
Consulting

4/16/2010 |

Business 170 – CVS2 - Final Project | Analysis of Current Withholding Tax Policy | Andrea Smith - 7018051 |

Table of Contents

Executive Summary 3
Introduction 4
Analysis and Discussion 5
Recommendation 11
Appendix 1 - Result of Access Query – Annual Management Salaries 12
Appendix 2 - Result of Access Query – Annual Office Wages 13
Appendix 3 - Result of Access Query – Annual Production Wages 14
Appendix 4 - Excel Worksheet – Annual Management Salaries 16
Appendix 5 - Excel Worksheet – Annual Office Wages 17
Appendix 6 - Excel Worksheet – Annual Production Wages 18
Appendix 7 - Excel Worksheet – Employee Tax 20
Appendix 8 – Comparison of Tax Withholding Policy Graphs 24

Executive Summary

This report is a summarization of the results acquired utilizing the current tax withholding policy of Smith Consulting for the 2009 taxation year. It will show the classification of employees into different departments, as well as for the company as a whole, and their annual income as well as the income taxes withheld, and income taxes payable per employee.
This report explains how Excel and Access were utilized to obtain the results as well as including both linked and unlinked copies of the data as appropriate.
The conclusion of the report is a recommendation of how to change the current tax withholding policy to ensure that no employees will have income tax payable, and only management will receive a refund of over $2000.00 in future years.

Introduction
This year Smith Consulting employed 100 people in total. Of the 100 employees, 10 were managers, 20 were in the sales department, 10 were office employees, and 60 were in the production department.
Manager’s salaries ranged from $37,000 to $114,000, office employee’s wage ranged from $9,000 to $10,000, and the production employee’s wages ranged…...

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