Hi there.
I hope you're doing well! Thank you for reaching out to us on the QuickBooks Community page. I'm more than happy to assist you with setting up Social Security and Medicare deductions in QuickBooks Online (QBO).
QuickBooks Online Payroll automatically calculates and applies Social Security and Medicare taxes for your employees after you've set up their W-4 information. To do this, you'll need to complete your employee's information in the Employee list page. Here's how:
- On the left menu, hover over Payroll and select Employees.
- Look for an employee with an Exclamation mark beside its name. If you see one, that means you still need to complete your employee's information.
- Select that employee and head to the Tax withholdings section.
- If you can see an edit button in the Tax withholdings section, that means your employee has already been registered to your QBO account and is eligible for Social Security and Medicare deduction.
If you can't see the edit button in the Tax withholdings section, you're employer will still need to fill out their Form W-4. Otherwise, you can also fill it out yourself by turning off the Employee self-setup button and complete their information.
For future reference, here's a great resource to help you close out your current year and prepare for the new year in QuickBooks with your accountant: Year-end checklist for QuickBooks Online Payroll.
If you have any further questions or need additional assistance, please feel free to ask. We're here to help!