Employees and payroll
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For 2024, the 401k annual compensation cap limit is 345,000. If the plan allows for a 3% safe harbor match, then the total match allowed would be 10,350 for the year once they hit the compensation limit of 345k, regardless of their deferral total. In payroll items set up, there is a default rate and limit option. The limit field says if there is an upper limit, enter it here. Is this the dollar amount of 10,350 or the compensation limit of 345k?
I recently received a Notice of amount due from EDD for penalties and interest for a supposedly late payment. I initiated a payment on 1/31/24 for Q4 2023 taxes due. According to the EDD website: https://edd.ca.gov/en/payroll_taxes/Electronic_Funds_Transfer/ Automated Clearing House (ACH) Debit:Make a payment by authorizing the State of California to electronically debit your bank account.Payment transactions must be completed before 3 p.m., Pacific Time (PT), for the funds to settle on the next business day.There is no fees to use this method.I read this as meaning the e-payment must be accepted by 3PM 1/31/24. In this case the audit trail indicates that the payment was "successfully processed by the tax agency" at 1:15 PM 1/31/24. As stated above, this cutoff is "for the funds to settle on the next business day", which they did on 2/3 per the EDD call center. Two different agents told me the funds had to SETTLE by 1/31/24 3PM to be on time. I believe thi
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I run payroll on Tuesdays with a pay date and direct deposit for that Friday. Currently, employees can see their paystubs immediately on Tuesday and I want to change that to making the paystub accessible on Friday which is the actual pay date. How do I change this setting in QBO?
This was all paper checks so no direct deposit but I see that I forgot to remove something from the checks so all the checks in QB are incorrect and do not match what was paid in the paper checks.
Our client has locations in those Missouri and Illinois and Wisconsin. We are a janitor company and the client is telling us that janitorial services are tax exempt in those states.
I have 5 day funding to pay contractors. I want next day direct deposit to pay them. What are the exact steps to make this happen? I have clicked on the Next Day Direct Funding and I never hear back - I am still stuck on 5 day funding.
MT has a new MW-4 form effective 1/01/2024. How do you enter an amount for line 4 "Reduced Withholding"? In the instructions it states: "To calculate the amount needed, divide the amount of your expected tax by the number of pay periods in a year. Enter the amount to be withheld rather than the standard calculation." I don't see a field to enter an amount for line 4 on QB payroll employee tax information. Has anyone else encountered this situation? Thanks in advance for your help!
i am self employed, my payroll firm uses quickbooks and they made a mistake on EIN and 2023 W2 issued has incorrect EIN and due to which payroll taxes were also not deducted. how to take care of this? learned that w3c form can be filed with IRS to correct this but my main concern was how to pay payroll taxes for 2023 W2. Thanks in advance....
Literally every inch covered with his sports team
an email is sent from QBOpayroll notifying me and someone else that payroll taxes are being withdrawn on a specific date. how do i change the email addresses.
NY Healthworker Bonus (NY HWB) is NOT included on Line 2 of Form 941 (Toatl Wages) but it IS included on Lines 5a and 5c (SS and Medicare Wages). Alos, it is NOT included on Line 1 of w2, instead it's reported in Box 14 of the W2. And now this bonus is NOT being reported on the Line 1 of W3 Summary. So, should I manually override a W2 to report this bonus on Line 1?
Payroll will not let run until I update employee profile, Ive updated everything but it still won't let me run it. It worked fine last month.
There are instructions for adding a TPA for filing MA unemployment tax but I can't find any for withholding tax. I know where to do it on the Mass Tax Connect site but not what to enter. Thanks!
Paycheck numbers did not transfer to check register
i am self employed, my payroll firm uses quickbooks and they made a mistake on EIN and 2023 W2 issued has incorrect EIN and due to which payroll taxes were also not deducted. how to take care of this? learned that w3c form can be filed with IRS to correct W2 but my main concern was how to pay payroll taxes for 2023 W2. Thanks in advance....
On. a couple of my companies this week. CORRECT payroll liabilities were paid. However transactions not in check register. After hours on line with what has become incompetent tech support Im nowhere, Ive checked other registers, searched for the amount and its not there. This happened to me one other time a few months ago, Knowledgeable support was able to go in thru back end and fix in a matter of minutes. I know I can create a transaction by copying liability info but this will not tie out on my 941's. I probably have 6-7 hours on the phone and cant get anyone to resolve. Any ideas or even better any ideas on how to get competent help on the phone
If entering mileage on quick books it will not respond
Hello!We have a new LLC partnership with two partners as the only employees. The business was started last year, and the partners were paid as W-2 employees and a W-2 was filed. This has been a huge learning curve, and we now know this was a large error. Per the advice from my tax expert on TurboTax, I have been in contact with QuickBooks to essentially void the 2023 checks that were paid to get a new W-2 issued that reflects all zeros. I still have questions and would appreciate any help:For 2023-How should the money that was paid on the paychecks now be recorded in QuickBooks (including the taxes as I am assuming I will have to file to get that money back)For 2024-I will void the paychecks (They were written manually). How should I record the money that was paid on these 2024 checks? We were utilizing QuickBooks Payroll, moving forward will the payroll add on serve us any purpose or should we get rid of it?The options for pay moving forward are confusing, so we are trying t
