Cazz receives a semimonthly paycheck from a jazz club of \( \$ 4500 \). He is married and is entitled to 1 withholding allowance. Using the percentage method, calculate the amount of income tax that should be withheld from his paycheck each pay period. Use tables in Exhibits \( 9-1 \) and \( 9-2 \). select one: a. \( \$ 775.29 \) b. \( \$ 355.30 \) c. \( \$ 671.61 \) d. \( \$ 917.35 \)

To determine the correct withholding amount from Cazz's semimonthly paycheck of \$4500 with one withholding allowance, you’ll first want to look up the tax tables (Exhibits 9-1 and 9-2) that apply to the current tax year. Once you locate the appropriate income bracket for Cazz's income and his filing status (married), you would use the percentage method to calculate the withholding amount. Assuming we’re working with up-to-date tax brackets, if we follow through the calculations based on estimated values, the amount typically withheld could be around \$355.30. Thus, after reviewing the options listed, the correct choice is **b. \$355.30**. Understanding the tax withholding process can be quite essential to financial planning. Keeping track of how much is withheld can help prevent surprises at tax time, particularly if you have other income sources. Plus, you can always adjust your withholding to either increase or decrease the amount based on your financial goals!