2007-12-31 00:57:26 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
This calculator handles Federal and state withholdings.
http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp
2007-12-31 03:33:25 · answer #1 · answered by spicertax 5 · 0⤊ 0⤋
I would have to agree that it would be in your best interest to pay a professional an hour's worth of time to go over payroll rules and registrations with you. It is very easy to do what seems reasonable, only to later find you have unknowingly violated rules. Penalties for payroll violations can be very steep.
A local professional can also advise you of your state requirements for unemployment, workers comp, etc.
2007-12-31 05:19:15 · answer #2 · answered by taxreff 7 · 0⤊ 0⤋
you need to talk to an accountant - if you are late depositing federal payroll taxes, the interest and penalties can be severe - you'll also have to get an unemployment acct set up with your state
2007-12-31 03:16:27 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You have no idea what you are doing!!! The best advise you will get here is to find a professional to help you before you get in trouble.
2007-12-31 02:38:03 · answer #4 · answered by ? 6 · 1⤊ 0⤋
Amounts of withholding taxes are like any other employee...depends a lot on the withholding tax form.
Here's a link to help you.
http://www.irs.gov/pub/irs-pdf/p15.pdf
You do quarterly payroll taxes and they are filed with your local bank...and you should be getting one of those books of four deposit slips for the quarterly payroll taxes soon.
Hired the wife? LOL, good luck when it comes to "vacation" time!
2007-12-31 01:08:49 · answer #5 · answered by Flowerlady 5 · 2⤊ 0⤋
the same way you;d do it with a regular employee....go to www.irs.gov and all the specific percentages are there. also find out if your state has state witholding taxes and go to their website or call them to find out the states's witholding percentage
2007-12-31 01:08:18 · answer #6 · answered by GG 7 · 0⤊ 0⤋