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W-4 and withholdings

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    #1

    W-4 and withholdings

    I have Quickbooks and another payroll program that I've transitioned towards.
    Is there a set equation to determine federal withholding per W-4 entry?
    I noticed when I enter the exact same W-4 data, the federal tax withheld is different.

    Just wondering.
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    #2
    Make sure your programs are updated to the 2014 withholding tables.

    Comment

      #3
      Circular E, Employer's Tax Guide

      You can visit the IRS website and check the Circular E, Employer's Tax Guide for the most recent tax withholding tables. Compare this to the two different figures you are getting to determine the correct withholding amount. Good luck!

      Comment

        #4
        Web Site

        This website, I have found, is pretty darn accurate and sometimes, maybe off a few cents. http://www.yourmoneypage.com/withhold/fedwh1.php

        I use it all the time to assist the client in adjusting their withholding; works well for that purpose.
        Circular 230 Disclosure:

        Don't even think about using the information in this message!

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        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

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