How to set the Federal, FICA, Medicare & State Rates, Exemption Allowance & Maximum Taxable Wage Amounts
- Click Manage Employees
- Click Tools tab
- Click Pay Types
- Double Click FEDERAL WHLD
- Click Tax Info tab
- Click Edit button
- Set Exemption Allowance Amt: to the published IRS rate in Publication 15
- Click Save button
- Click the > (Next navigation button in the upper right corner)
- The Pay Type Name: FICA WHLD should be displayed
- Click Edit button
- Set Percentage Rate: to the published IRS rate in Publication 15
- Set Maximum Taxable Wage: to the published IRS rate in Publication 15
- Click Save button
- Click the > x2 (Next navigation button in the upper right corner)
- The Pay Type Name: STATE WHLD should be displayed
- Click Edit button
- Set Exemption Allowance Amt: to the published rate by the State of MI
- Set Percentage Rate: to the published rate by the State of MI
- Click Save button
- Click the > x1 (Next navigation button in the upper right corner)
- The Pay Type Name: EMPLOYER FICA should be displayed
- Click Edit button
- Set Percentage Rate: to the published IRS rate in Publication 15
- Set Maximum Taxable Wage: to the published IRS rate in Publication 15
- Click Save button
- Click the > x1 (Next navigation button in the upper right corner)
- The Pay Type Name: EMPLOYER MEDI should be displayed
- Click Edit button
- Set Percentage Rate: to the published IRS rate in Publication 15
- Click Save button
- Click Close button to exit the tool
0 Comments