Payroll deductions - where do I get the amounts to deduct?
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I'm setting up a brand new business. Where do I learn how much to deduct from payroll?
If you want to do payroll manually (which I don't recommend), you would look in the Circular E from the IRS. 1 out of 3 small businesses that try to do payroll themselves have an average annual penalty of $1,500 per year!
In QuickBooks, if you subscribe to a payroll service, then QB will calculate the payroll deductions for you. I recommend QuickBooks Assisted Payroll for my clients--Intuit takes care of the payroll taxes and filings for them. You can learn about all the payroll options at http://payroll.intuit.com
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