Payroll Taxes

#4 08-05-2005, 02:23 AM

FWIW, Money 2006 Small Business includes a year's free subscription to
PayCycle which calculates payroll deductions and sets checks up for printing
as well as preparing the quarterly reporting. It's pretty neat.

--

"James E. Freedle II" <noreply[at]microsoft.com> wrote in message
news:erXPxuVmFHA.2920[at]TK2MSFTNGP14.phx.gbl...
- quote -

> You can download the tax tables from both the state and Federal
> government, there is a percentage method that is pretty close (good enough
> for my tastes) and then you can make a formula for calculating taxes. I
> have done this myself to calculate payroll.
> "Frank A Spina" <faspina[at]bellsouth.net> wrote in message
> news:%23dfzL8PmFHA.2080[at]TK2MSFTNGP14.phx.gbl...
> > What about state taxes, how do a figure that out as well. I don't need
> > all the table just a range that applies to my salary level so I can find
> > those and put them in the spreadsheet.
> > > > "harrelsonesq" <harrelsonesq2[at]yahoo.com> wrote in message
> > news:%23pjOwVKmFHA.3780[at]tk2msftngp13.phx.gbl...
> > > I used to do that on a spreadsheet. What keeps it from being "easy" is
> > > the federal withholding tax deduction. You can't really automate that on
> > > a spreadsheet, unless you could find the tax tables in electronic format
> > > someplace. The SSA & Medicare taxes are a set percentage, 7.65%, so that
> > > part is beyond easy.
> > > > > Just go Gross * x% [where x is your 401(k) deduction] = new total -
> > > (Gross * 7.65%) - tax on new total [from tax tables] - any after-tax
> > > deductions = Net.
> > > > > If you set it up so each element is in a separate cell, all you have to
> > > enter manually is the FWT amount. Everything else will change
> > > automatically when you change 6% to 8% or whatever.
> > > > > Alternatively, you could start at the desired Net and do Goal Seek.
> > > > > Susan
> > > "Frank A Spina" <faspina[at]bellsouth.net> wrote in message
> > > news:%232z55XDmFHA.3288[at]TK2MSFTNGP09.phx.gbl...
> > > > Not really a money question but the info I get can really help me in
> > > > money.
> > > > > > > I am a salaried employee with some pre-tax benifits. I have 3 kids and
> > > > pay into 401k plan. Using the Tax Estimate in MONEY that runs off my
> > > > schedule paycheck and a known value of what my bi -weekly paycheck
> > > > needs to be to get by everymonth. I can tweak and guess at my w4
> > > > deduction and my 401k contribution (that I can change every quarter).
> > > > What bugs me is it is not an exact science. Ie. I want a spreadsheet
> > > > that I can change the w-4 deductions, or a 401k contribution and see
> > > > what the final result will be for my paycheck. I can get pretty close
> > > > but not close enough to make me happy.
> > > > > > > Anybody know of a easy way to do this.
> > > > > > > > > > > > > > >

#3 08-05-2005, 02:19 AM

You can download the tax tables from both the state and Federal government,
there is a percentage method that is pretty close (good enough for my
tastes) and then you can make a formula for calculating taxes. I have done
this myself to calculate payroll.
"Frank A Spina" <faspina[at]bellsouth.net> wrote in message
news:%23dfzL8PmFHA.2080[at]TK2MSFTNGP14.phx.gbl...
- quote -

> What about state taxes, how do a figure that out as well. I don't need all
> the table just a range that applies to my salary level so I can find those
> and put them in the spreadsheet.
> "harrelsonesq" <harrelsonesq2[at]yahoo.com> wrote in message
> news:%23pjOwVKmFHA.3780[at]tk2msftngp13.phx.gbl...
> > I used to do that on a spreadsheet. What keeps it from being "easy" is the
> > federal withholding tax deduction. You can't really automate that on a
> > spreadsheet, unless you could find the tax tables in electronic format
> > someplace. The SSA & Medicare taxes are a set percentage, 7.65%, so that
> > part is beyond easy.
> > > Just go Gross * x% [where x is your 401(k) deduction] = new total -
> > (Gross * 7.65%) - tax on new total [from tax tables] - any after-tax
> > deductions = Net.
> > > If you set it up so each element is in a separate cell, all you have to
> > enter manually is the FWT amount. Everything else will change
> > automatically when you change 6% to 8% or whatever.
> > > Alternatively, you could start at the desired Net and do Goal Seek.
> > > Susan
> > "Frank A Spina" <faspina[at]bellsouth.net> wrote in message
> > news:%232z55XDmFHA.3288[at]TK2MSFTNGP09.phx.gbl...
> > > Not really a money question but the info I get can really help me in
> > > money.
> > > > > I am a salaried employee with some pre-tax benifits. I have 3 kids and
> > > pay into 401k plan. Using the Tax Estimate in MONEY that runs off my
> > > schedule paycheck and a known value of what my bi -weekly paycheck needs
> > > to be to get by everymonth. I can tweak and guess at my w4 deduction and
> > > my 401k contribution (that I can change every quarter). What bugs me is
> > > it is not an exact science. Ie. I want a spreadsheet that I can change
> > > the w-4 deductions, or a 401k contribution and see what the final result
> > > will be for my paycheck. I can get pretty close but not close enough to
> > > make me happy.
> > > > > Anybody know of a easy way to do this.
> > > > > > > >

#2 08-05-2005, 01:15 AM

http://www.quicken.com/taxes/taxslashing/estimator/

http://www.hrblock.com/taxes/tools/w...alculator.html
--
Chris Cowles
Gainesville, FL

"Frank A Spina" <faspina[at]bellsouth.net> wrote in message
news:%232z55XDmFHA.3288[at]TK2MSFTNGP09.phx.gbl...
- quote -

> Not really a money question but the info I get can really help me in
> money.
> I am a salaried employee with some pre-tax benifits. I have 3 kids and pay
> into 401k plan. Using the Tax Estimate in MONEY that runs off my schedule
> paycheck and a known value of what my bi -weekly paycheck needs to be to
> get by everymonth. I can tweak and guess at my w4 deduction and my 401k
> contribution (that I can change every quarter). What bugs me is it is not
> an exact science. Ie. I want a spreadsheet that I can change the w-4
> deductions, or a 401k contribution and see what the final result will be
> for my paycheck. I can get pretty close but not close enough to make me
> happy.
> Anybody know of a easy way to do this.

#1 08-04-2005, 03:13 PM

What about state taxes, how do a figure that out as well. I don't need all
the table just a range that applies to my salary level so I can find those
and put them in the spreadsheet.

"harrelsonesq" <harrelsonesq2[at]yahoo.com> wrote in message
news:%23pjOwVKmFHA.3780[at]tk2msftngp13.phx.gbl...
- quote -

> I used to do that on a spreadsheet. What keeps it from being "easy" is the
> federal withholding tax deduction. You can't really automate that on a
> spreadsheet, unless you could find the tax tables in electronic format
> someplace. The SSA & Medicare taxes are a set percentage, 7.65%, so that
> part is beyond easy.
> Just go Gross * x% [where x is your 401(k) deduction] = new total -
> (Gross * 7.65%) - tax on new total [from tax tables] - any after-tax
> deductions = Net.
> If you set it up so each element is in a separate cell, all you have to
> enter manually is the FWT amount. Everything else will change
> automatically when you change 6% to 8% or whatever.
> Alternatively, you could start at the desired Net and do Goal Seek.
> Susan
> "Frank A Spina" <faspina[at]bellsouth.net> wrote in message
> news:%232z55XDmFHA.3288[at]TK2MSFTNGP09.phx.gbl...
> > Not really a money question but the info I get can really help me in
> > money.
> > > I am a salaried employee with some pre-tax benifits. I have 3 kids and
> > pay into 401k plan. Using the Tax Estimate in MONEY that runs off my
> > schedule paycheck and a known value of what my bi -weekly paycheck needs
> > to be to get by everymonth. I can tweak and guess at my w4 deduction and
> > my 401k contribution (that I can change every quarter). What bugs me is
> > it is not an exact science. Ie. I want a spreadsheet that I can change
> > the w-4 deductions, or a 401k contribution and see what the final result
> > will be for my paycheck. I can get pretty close but not close enough to
> > make me happy.
> > > Anybody know of a easy way to do this.
> > >

08-04-2005, 04:36 AM

I used to do that on a spreadsheet. What keeps it from being "easy" is the
federal withholding tax deduction. You can't really automate that on a
spreadsheet, unless you could find the tax tables in electronic format
someplace. The SSA & Medicare taxes are a set percentage, 7.65%, so that
part is beyond easy.

Just go Gross * x% [where x is your 401(k) deduction] = new total - (Gross
* 7.65%) - tax on new total [from tax tables] - any after-tax deductions =
Net.

If you set it up so each element is in a separate cell, all you have to
enter manually is the FWT amount. Everything else will change automatically
when you change 6% to 8% or whatever.

Alternatively, you could start at the desired Net and do Goal Seek.

Susan
"Frank A Spina" <faspina[at]bellsouth.net> wrote in message
news:%232z55XDmFHA.3288[at]TK2MSFTNGP09.phx.gbl...
- quote -

> Not really a money question but the info I get can really help me in
> money.
> I am a salaried employee with some pre-tax benifits. I have 3 kids and pay
> into 401k plan. Using the Tax Estimate in MONEY that runs off my schedule
> paycheck and a known value of what my bi -weekly paycheck needs to be to
> get by everymonth. I can tweak and guess at my w4 deduction and my 401k
> contribution (that I can change every quarter). What bugs me is it is not
> an exact science. Ie. I want a spreadsheet that I can change the w-4
> deductions, or a 401k contribution and see what the final result will be
> for my paycheck. I can get pretty close but not close enough to make me
> happy.
> Anybody know of a easy way to do this.

#-1 08-03-2005, 03:14 PM

Not really a money question but the info I get can really help me in money.

I am a salaried employee with some pre-tax benifits. I have 3 kids and pay
into 401k plan. Using the Tax Estimate in MONEY that runs off my schedule
paycheck and a known value of what my bi -weekly paycheck needs to be to get
by everymonth. I can tweak and guess at my w4 deduction and my 401k
contribution (that I can change every quarter). What bugs me is it is not an
exact science. Ie. I want a spreadsheet that I can change the w-4
deductions, or a 401k contribution and see what the final result will be for
my paycheck. I can get pretty close but not close enough to make me happy.

Anybody know of a easy way to do this.

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