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