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Payroll deductions - where do I get the amounts to deduct?

11/1/09 9:41 AM
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I'm setting up a brand new business. Where do I learn how much to deduct from payroll?

 
 
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11/1/09 10:39 AM

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

PLEASE mark this answer as solved (click the button under the answer in the lower, right corner) or post additional questions. Thanks so much!!!

Michelle L. Long, CPA, MBA
Author of the book "Successful QuickBooks Consulting"
http://www.LongforSuccess.com
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