Skip to content

How to Use Employee Tax Calculator for Paycheck Calculator in QuickBooks

    Employee Tax Calculator

    So, have you just started with a new business venture and pondering how you can reimburse your members of staff in the right manner? Now you can breeze through employee tax calculation with QuickBooks employee tax calculator which enables you to compute paychecks for both hourly and annual basis.

    For immediate answers to your queries in relation to employee tax calculator, feel free to speak to Accounting Problem QuickBooks tech support team at our helpdesk number.

    Steps for Employee Tax Calculator or Paycheck Calculator in QuickBooks

    Gone are the days when you had to burn midnight’s oil to calculate the employee payroll taxes and consult your accountants time and again. With the introduction of QuickBooks employee paycheck calculator, all you have to do is fill in your member of staffs alary details and rest is all taken care by the software application. Isn’t that great news for all the business owners across the globe? After all, who doesn’t want to calculate employee taxes without much hassle?

    This calculator basically munches the figures to give you an overview of precisely how much amount you need to reimburse to your member of staff and how much amount you need to subtract as taxes, as well. The calculations done by the calculator are most of the times correct as it makes use of the latest tax table. It allows you to include other aspects while calculating taxes such as overtime, gratuities, or commissions?

    There are basically two types of paycheck calculator that deduct employee taxes and give you the net payable salary. Let’s have a quick glimpse at how these two different types of paycheck calculator work:

    Hourly Paycheck Calculator in QuickBooks

    Hourly paycheck calculator enables the user to correctly compute the net payable amount for the members of staff who have been working for the company on an hourly basis after all taxes and deductions have been in remission. In order to make use of this calculator, you need to choose the hourly pay ratio option and after that provide the number of hours worked for every member of staff, as well as the gross hourly ratio.

    Salary Paycheck Calculator in QuickBooks

    If your members of staff are paid a set amount of pay, then salary paycheck calculator is the best option for you to calculate the total amount you need to pay them. This calculator helps you in computing the net salary to be paid to the salaried member of the staff after subtraction of employee taxes and other related deductions.

    In order to use this calculator, you need to choose the pay ratio option and fill in your member of staff gross pay amount. The net salary will be automatically generated and you will be all good to go.

    QuickBooks helps you in deducing the exact employee taxes, thereby allowing you to dump the complex calculations and spend more time improving your overall business performance.

    How to Setup Payroll Taxes in QuickBooks

    Proceed with the steps given to setup payroll taxes in QuickBooks:

    • Go to the tax center
    • Choose the desired payroll tax center and click next
    • You will be prompted by a window where you can see the list of the employees whose payroll taxes you have to setup.
    • Next, you have to provide all your company related details as in your business name, address, date you wish to start the first payroll and date when you hired the employee.
    • Click next
    • In the next window, you need to provide Federal Tax information, including FEIN (federal tax id), payroll tax form, federal tax payments, and non-profit status.
    • After this, you have to give details regarding the State which includes State employer account number, State Unemployment Insurance (SUI) Ratio, Employment Training Tax, and Deposit Agenda.
    • Now, you have to choose one option among the given two:
      • E-pay and E-file- If you choose this option, then you can put all your worries to rest as your taxes will be calculated every time automatically and then filed.
      • Manually with paper coupons- In case you decide to go with this option, then you can make your payments by means of check and submission of paper coupons.
    • Once you have entered all of the setup details, you can return to the Payroll Tax Center by pressing on the Gear icon and choose Payroll Settings.

    Are you still not much clear about employee tax calculator and wish to know more about the same? If yes, then connect with our Accounting Problem QuickBooks technical support team at QuickBooks helpline to get answers to all your queries.