Does Quickbooks automatically take out the State ,federal , and social security taxes out of a check that you make for your employees? If so, is that it? You dont have to worry about taxes until the end of the year and send out a W-2?
Related posts:
- What Taxes Does A Company Pay For Its Earnings?like Federal Tax, State Tax, Social Security Tax, Medicare Etc? An employee pays federal tax, state tax, medicare tax, SUI/SDI...
- What Taxes Will I Get Back If I’m 17 And Live In California? My year to dates were: Federal Withholding- 240’s Social Security-...
- What Taxes Can I Expect To Be Taken From My Paycheck If I Work In California? I have received my paycheck and want to make sure...
- How Should A Minor Go About With Taxes? I am 15 years old and have $6,000 that I...
- How Do State And Federal Income Taxes Work? I am 16, live in Michigan, and recently started working...
Related posts brought to you by Yet Another Related Posts Plugin.
28. February 2010 at 10:53 am
Quickbooks does not do anything outmatically.
If you sign up for Quickbooks payroll service, you have to set up the employees and the deductions and Quickbooks does the work because it has the tax tables (which is why you pay for the service)
You have to pay (and worry) the taxes that are witheld from the employee’s check and match the employer portion of the social security . You must do this a minimum of monthly usually. You do the proper tax forms and either pay online or send in a check.