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How to set the Federal, FICA, Medicare & State Rates, Exemption Allowance & Maximum Taxable Wage Amounts

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
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