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Chapter 20. Paying Employees and Contractors > Updating Payroll Tax Tables

Updating Payroll Tax Tables

When you use the Employee List to add a new employee or to edit an existing one, click the Taxes button on the Payroll Info tab to specify withholding and deduction information for each employee (see Figure 20.10). Based on your choices, QuickBooks accurately calculates the amount of taxes owed, deducts the correct amount from each check, and places the sums in the correct accounts. It does this for state taxes as well as for federal; you simply have to select a state from a drop-down menu. You might be wondering how QuickBooks does this. After all, aren’t tax withholding calculations time-sensitive, subject to new congressional laws and changes in the tax code?

Figure 20.10. Enter employee tax deductions in the Taxes dialog box.



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