Breaktru Forum

Payroll Software => General Discussion: Payroll Software => Topic started by: Breaktru on November 15, 2008, 08:58:53 PM

Title: FICA taxes for Texas
Post by: Breaktru on November 15, 2008, 08:58:53 PM
hello im new to the software as i was using excel for my wage sheets in texas we have no city taxes or state taxes im coming up with different numbers using your system and my excel system here is what im doing, my employee gets 9.50$ a hour they work 40 hours that equals 380.00$ so i take 380 multiply by 7.65% for fica that equals 29.07$ and then using the federal withholding book for 2007 they say take out 22.00 for social security so 380 minus 28.07 minus 22.00 328.93$ for pay in your software it comes up with 328.33$ now .60 cents don't sound bad for a one time issue but to the irs over a 52 week period im in big trouble.

Payroll uses the exact calculation method. The book is an approximation for a pay range. For matching FICA, export the Year to Date form to Excel and from there you can manipulate rows/columns to suite your needs manually.