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Samuel II
Samuel II, Attorney at Law
Category: Employment Law
Satisfied Customers: 27011
Experience:  More than 20 years of experience practicing law.
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II, I have another question regarding our *previous

Customer Question

Samuel II, I have another question regarding our *previous conversation in calculating payroll increases. Referring back to your answer, "21.66 or it can be round up to the nearest 10th bringing it to 21.67". What is the industry standard used to calculate payroll increases (ex: ADP/INTUIT..) . Do they round up or down.*Previous Answer: "This is Samuel Computed on the hourly rate of $21.24 it would then be multiplied by 2% and it is a two place decimal point as in 21.24 times .02 equals 4248 and then you add the 21.24 to the .42 and it gives you 21.66 or it can be round up to the nearest 10th bringing it to 21.67."
Submitted: 1 year ago.
Category: Employment Law
Expert:  Samuel II replied 1 year ago.

Well, the IRS will round up after .50. So that would be the standard I would suggest.

Per the IRS

Rounding Offto Whole Dollars

You must round off cents to whole dollars. To round off amounts to the nearest whole dollar, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3. If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding and only round off the total.