Publication 15 will show you the tables and how to do withholdings for federal. The SS and Medicare is easy, 6.2% of gross income, employer matchs this; and Medicare is 1.45 %, employer matchs contribution.
Pay it as form 941 by the 15th of the following month, electronically online with the IRS. Then at the end of every quarter the form 941 has to be physically filled out and mailed in, postage dated no later than the 15th day following a fiscal quarter. Don't forget about FUTA too.
Then state tax is determined by a few different things. As an out of state employer, you may not be responsible to hold back employee state taxes for an employee who is domiciled at a state different than the state of the business home address. But as a convience to employee, one must read the employee's home state tax code and publications for state withholding process
Intuit Payroll
Discussion in 'Ask An Owner Operator' started by kw600, Nov 1, 2014.
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Trucking doesn't seem to fit into Intuit and Quickbooks. Those programs are more based for hourly payroll.
To make a paycheck just make something up on Excel that's looks good and professional. Include all the important info & Save it as a template. Then just alter it each week as needed. Export it as a pdf file, and store it in a folder with your employees name on it. Email the pdf to employee for their records. Direct deposit the money into the employee account. Withhold the money responsibly. -
Those companies scare people into thinking payroll tax withholdings are so complicated. It's just basic math.
There is a blue print to follow. It's in publication 15, IRS website. It's a 4 or 5 step math problem based on the allowances on the W-4, the pay schedule (weekly,bi-weekly etc), and the tables within publication 15. -
Actually it does. I have mine setup for this and it works as I want it to. I use percentages with pass through accessorial fees for my drivers and payroll is just quick and easy.
The one thing that many seem to NOT get about quickbooks is that you need to pay someone to set it up right for you. Many don't want to or are too cheap to pay in the first place. I got about $300 invested in the add ons and custom work outside the costs of the program. I paid for that a thousand times over by the money I saved with one central ledger system.Lepton1 and HopeOverMope Thank this. -
I use Intuit Payrol, ease and simple set-up, if you have Business account and cheq accounts of you employee in Bank of America it will be free!!!
https://www.bankofamerica.com/smallbusiness/online-banking/payroll.goDudleyBoyNC and Lepton1 Thank this. -
I hear you. Good to know
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