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What taxes exactly? The employer portion of social security is 6.2% and 1.45% for Medicare, so 7.65% total. Plus, there is also federal and state unemployment which varies.
Please reveiw highlighted yellow , this is Employer Taxes....does this seem excessive ?
Hi there, lala100300.
I'd love to help you achieve your goal. However, I need more information to get me on the same page.
Would you mind telling me more about your concern? What specific employer taxes are you referring to? Any details can help us provide the exact steps to resolve this.
I will eagerly await your response. Thanks, and keep safe always.
Hi..I just replied in the email with attachements to view, I just wanted to add...the highlighted "Employer Tax" , How did it get to this number ?
Hello there, @lala100300. Thanks for clarifying things about the employer taxes. Let me provide some basis on how it's calculated by QuickBooks.
QuickBooks Online Payroll calculates the employer payroll taxes automatically based on the wage base and limits for your Social Security, Medicare, FUTA, etc. This method applies to state, federal, and local income taxes.
The payroll info will depend on how you entered it in QBO. Additionally, it vary per state. I recommend visiting your state tax agency's official website for more details about it.
Let me also add an article for you to learn more about keeping track and personalizing payroll transactions in QBO: Run, customize, or print payroll reports in QuickBooks Online Payroll.
Please let us know if you need more help with payroll, taxes, or QuickBooks in particular. We'll make sure to respond as soon as possible. Have a good one!
There is also a discrepancy of $4,313.66 in employee taxes. Your second screenshot shows that the employer taxes are being calculated correctly (6.2% SS, 1.45% Medicare, FUTA). On your first screenshot, the one that shows the employer taxes of $9,633.44, it appears the breakdown is below that, no?
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