TaxPayments,Year‐to‐DatePayroll(9/4/2008) Page1of8
TaxPaymentsChecklist(YeartoDatePayroll)
Important:BeforeyouentertaxpaymentsintheEnterPayrollTaxPaymentswindow:
• Enterallyouryear‐to‐datepaychecksintheEnterPaycheckswindow.
• PrintthisTaxPaymentsChecklistdocumentandreviewitcarefully.
ToentertaxpaymentscorrectlyinStep5ofPayrollSetup,followthesesteps:
1. Understandtaxpaymentconcepts
.
2. Gatheryourtaxpaymentinformation
.
3. Entertaxpayments inStep5ofPayrollSetup
.
1. Understandtaxpaymentconcepts
WhatistheEnterPayrollTaxPaymentswindow?
TheEnterPayrollTaxPaymentswindowinStep5ofPayrollSetupletsyouenterthepayrolltax
liabilitiesyou’vepaidsofarthisyear.QuickBooksusesthisinformationtodeterminehowmuchyoustill
owetofederalandstateagenciesandtohelpensurethatyourfuturetaxdepositsand
filingsare
accurate.
Whatisapayrolltaxliability?
Apayrolltaxliabilityismoneyyouoweagovernmentagencyforapayrolltaxitem.Someexamples
include:
• Federalorstatewithholding(alsocalledIncomeTax;doesnotincludeSocialSecurityor
Medicare)
• SocialSecuritycompany‐paidtax(alsocalledFICAorOASDI)
• SocialSecurityemployee
‐paidtax
• Medicarecompany‐paidtax
• Medicareemployee‐paidtax
• FederalUnemploymentTax(alsocalledFUTA)
• Statedisabilityinsurance(alsocalledSDI)
• Stateunemploymentinsurance(alsocalledSUI)
• Statesurchargesandassessments
• Anyotherlocalorcustomtaxes