AboutShirley McAllister, CPP, PHR Expertise I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension.
I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures.
Please do not ask me homework questions I do not have time to answer them.
Experience 25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.
Organizations SHRM, APA, I.O.M.A.
Publications I.O.M.A. and BNA
Education/Credentials P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration.
Boise State University Human Resource Certification
Awards and Honors APA Hotline Citation of Merit for last 8 years.
Question I have started doing the books for a one-man company that has done nothing regarding payroll; except to write a check for the net amount. He uses QBs 2002 that came with his computer and does not have the Payroll module activated.
I need to know how to calculate - from the NET amount - what would be the SS and Medicare amounts. The Federal W/H amount would be something I would have to 'work' in order to come back to the net check.
Of course, January 31st has passed, therefore, I need to get this completed and file the 941s, 940s, etc., before April 15th.
Any information you can provide would be greatly appreciated.
Answer You cannot figure the Fica and Medicare on the net amount. You have federal and state income taxes coming out of the net amount.
What you have to do is find his figures where he figured the amounts in order to get the net amount. He should have the paperwork somewhere.
If he does not than you need to find out how many hours the employee worked and what he was paid per hour. That information is also required to be kept on file.
In order to figure Fica and Medicare on the net amount you would need to add in all other deductions and you do not know what they are such as federal and state taxes.
Are you saying that you have no paperwork at all to work with? How are you going to give the employee a W-2 at the end of the year, not to say that a paycheck stub is required with each paycheck. Do you have a copy of a paycheck stub?
Does he has tax expense accounts set up in Quickbooks? Maybe there is a way to use the amounts in those accounts.
