What are Payroll Taxes? Introduction to Calculating Payroll Taxes with Hector Garcia in 2024

Ғылым және технология

Learn more about how to calculate payroll taxes and stay compliant: intuit.me/3uW68gp
In this QuickBooks Payroll tutorial, ‪@HectorGarciaCPA‬ teaches you how to calculate payroll taxes in 2022. Learn how your employees’ paychecks are calculated and your wage expenses are distributed as Hector breaks down federal, state and local taxes. Also, learn how QuickBooks Payroll software can help you automatically make these calculations to avoid unneeded headaches.
In this video:
0:00 Introduction to calculating payroll taxes
1:44 Federal Income Taxes (the IRS)
4:13 State and Local Income Taxes
7:20 Example and breakdown of employee paycheck withholdings
Leave a comment below and let Hector know what other questions you have about calculating payroll taxes in 2022 or any other payroll topics.
Hector Garcia is a CPA (Certified Public Accountant), QuickBooks consultant and business owner. He is also just a big fan of Intuit QuickBooks! He has teamed up with QuickBooks to produce this video series about Payroll.
Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.
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Пікірлер: 60

  • @LosMoralesBakery
    @LosMoralesBakery Жыл бұрын

    Excellent information, Mr. Garcia!

  • @christinebarker8975
    @christinebarker8975 Жыл бұрын

    Thank you Hector. Excellent presentation.

  • @MonicaJohnson-ej3ht
    @MonicaJohnson-ej3ht Жыл бұрын

    Thank you for the breakdown. I am new to calculating payroll and all the taxes that go along with it. The inclusion of information for California was a huge benefit. When I start my Quickbooks class, I'll be sure to visit more of your videos.

  • @HectorGarciaCPA

    @HectorGarciaCPA

    10 ай бұрын

    Every state is different. Which is why we skipped it

  • @nogoogle6349
    @nogoogle63492 жыл бұрын

    We loved it Hector Garcia

  • @clemmyane9152
    @clemmyane9152 Жыл бұрын

    Thanks for taking your time to explain in details. 👍👍👍

  • @jonahmelvon
    @jonahmelvon Жыл бұрын

    Very helpful and thorough

  • @lienpb
    @lienpb7 ай бұрын

    Thank you, very helpfull information.

  • @tennehbility8596
    @tennehbility85962 жыл бұрын

    Great job bro🙏🏽

  • @DeepPatel-iq5ui
    @DeepPatel-iq5uiАй бұрын

    Very nice learning from you

  • @conniemontanez9482
    @conniemontanez948211 ай бұрын

    Great video!

  • @louietoltolvlog9699
    @louietoltolvlog96992 жыл бұрын

    Does FICA, suta, futa company paid affect a marital status, allowance? Aren’t marital status, allowance for deductions of paycheck on employee side?

  • @mariacarrillo7573
    @mariacarrillo7573 Жыл бұрын

    Hi, very helpfull information. I would like to know why the calculation of the federal tax only covers 3 days. I can see up to 5 deductions just in January. Thank you

  • @hildasuarez8755
    @hildasuarez8755 Жыл бұрын

    Thank you for the info

  • @moneymakerfosho6915
    @moneymakerfosho69152 жыл бұрын

    Fantastic informative video, thank you most kindly!😁😁😁

  • @riospropertymanagement6076
    @riospropertymanagement60762 жыл бұрын

    Hello, very interesting. I need to know if its the same for nonprofits and for profits corporations?

  • @louietoltolvlog9699
    @louietoltolvlog96992 жыл бұрын

    Should I calculate a hourly wage to gross wage to calculate FICA, Medicare, suta, puta?

  • @renemartin9230
    @renemartin9230 Жыл бұрын

    Hi Hector. What’s the best way to get one of your webinar??

  • @dionelcybloom5700
    @dionelcybloom57002 жыл бұрын

    I have learned so much with your videos, do you also have desktop tutorials. Thank you very much

  • @quickbooks

    @quickbooks

    2 жыл бұрын

    Hello there, Dionelcy! Yes! We do indeed have QuickBooks Desktop tutorials and demos as well. To check them out, please visit our QuickBooks Playlists here: (kzread.infoplaylists)! ^Faith

  • @xioxio3020
    @xioxio3020 Жыл бұрын

    Buenas Hector, thank you my friend for the heart attack, I was about to hire my first helper for my small business but I changed my mind after your explanation. Just kidding! thank you I learned a lot!

  • @mariananajera7940
    @mariananajera79402 жыл бұрын

    Hi Hector, what payroll software would you recommend for employees who only have an ITIN?

  • @ommode2278

    @ommode2278

    Жыл бұрын

    did you ever find out? I had the same question.

  • @saintjohnservice1466
    @saintjohnservice14663 жыл бұрын

    Ooh Hector I like your new background. Gosh it's nearly time to do books again.. time flies 😔

  • @HectorGarciaCPA

    @HectorGarciaCPA

    3 жыл бұрын

    This was a green screen setup... was professional recorded in a studio, not my house. It was a really cool experience.. so thankful that intuit wanted to do this with me!

  • @smm997
    @smm997 Жыл бұрын

    Which tax employees pay from salary because social security?

  • @tjkndy5978
    @tjkndy59782 жыл бұрын

    Great job, however, can you when a tax rate is specified, can you tell us exactly what the tax rate is based on? Like Gross, Adjusted Gross, etc. Also can you explain the precedence of order of the tax calculations, like when a state tax is taken off of the Adjusted Gross Income, and what is AGI comprised of? Thanks!

  • @misspeaches358

    @misspeaches358

    Жыл бұрын

    Great question ⁉️

  • @chalwacytrynowa9365
    @chalwacytrynowa93652 жыл бұрын

    Hello Hector, I am using Quickbooks and Tsheets, I am owner of big company in which my employees sometimes have to work in different states. How QB knows in which state I should pay taxes?

  • @muhammadabuzar2093

    @muhammadabuzar2093

    Жыл бұрын

    If they live up to 182 days your establish state mean you you live Alaska state Upto 182 days you will consider Alaska taxes, or if your employee live more than 182 days an others states like Newyork then you will consider New York taxes, You will initially follow W4 form .... thanks

  • @tonyguzman674
    @tonyguzman6742 жыл бұрын

    Hello Hector, I really need help right now. I need to do my quarterly payroll taxes. I do have quick books. If you can help I'd appreciate it,, Thank you!

  • @cogdj6452
    @cogdj64523 жыл бұрын

    Is quickbooks payroll included in the quickbooks monthly fee? If not how much extra is it?

  • @quickbooks

    @quickbooks

    3 жыл бұрын

    Hi there. The Payroll subscription is separate from the QuickBooks subscription. You can find product and pricing details here: quickbooks.intuit.com/payroll/pricing/

  • @1.21Gigawatts_
    @1.21Gigawatts_3 жыл бұрын

    Hi, I have a question. If I am getting money from a lawsuit settlement, will I have to pay fica taxes on the settlement money? Or will I only have to pay federal and state taxes? Is money from a lawsuit considered earned income or unearned income? The lawsuit has nothing to do with my employer of payroll by the way

  • @quickbooks

    @quickbooks

    3 жыл бұрын

    Hey there, Gigawatts. We recommend checking with a bookkeeper or accountant as the best way to categorize those funds inside of your QuickBooks.

  • @louietoltolvlog9699

    @louietoltolvlog9699

    2 жыл бұрын

    @@quickbooks Should I calculate a hourly wage to gross wage to calculate FICA, Medicare, suta, puta?

  • @yali1776
    @yali17763 жыл бұрын

    Hi, Mr Hector, could you please explain why .6% of the first $7000 is $6, but not $42? Thank you

  • @HectorGarciaCPA

    @HectorGarciaCPA

    3 жыл бұрын

    It was based on a $1,000 check only

  • @lynngambrell1424
    @lynngambrell14242 жыл бұрын

    If I have a 0% rate for my state Suta. What percent of Futa do I pay?

  • @dianny811

    @dianny811

    Жыл бұрын

    If someone can help us with this question, I’ll appreciate

  • @stephenprosso
    @stephenprosso10 ай бұрын

    When does Quick Books pay the IRS taxes? Is it Monthly? Do they pay the employee portion and the employer federal tax portion together in the same payment?

  • @quickbooks

    @quickbooks

    10 ай бұрын

    Thanks for reaching out. When it comes to payroll there are different ways that it can be done. This hub has many articles regarding the product itself: quickbooks.intuit.com/learn-support/en-us/quickbooks-online-payroll/help-topic/view-all-articles. Cheers. -Kyle

  • @kikoman780311
    @kikoman7803114 ай бұрын

    Do you have any videos that help calculate payroll taxes for employees with a W-4 from 2020 or later, have incomes over $100,000, and also contribute to a 401(k)?

  • @quickbooks

    @quickbooks

    3 ай бұрын

    Hi there. You can find the steps for a W-4 2020 or newer here: quickbooks.intuit.com/learn-support/en-us/help-article/worker-profile/whats-changing-federal-w-4/L9K6WoJ32_US_en_US. Hope this helps! -Kristina

  • @jamespark2936
    @jamespark29363 жыл бұрын

    My quickbooks is no longer calculating the Federal Withholding. Is this due to the new W-4 form?

  • @quickbooks

    @quickbooks

    3 жыл бұрын

    We'd be happy to take a closer look at this with you, James. Can you tell us which version of QuickBooks you're using?

  • @ncfundi

    @ncfundi

    3 жыл бұрын

    @@quickbooks I’m experiencing this as well. I’m currently using QB Desktop Premier

  • @quickbooks

    @quickbooks

    3 жыл бұрын

    @@ncfundi Thanks for confirming that for me. Can you tell me what year your QuickBooks is?

  • @ncfundi

    @ncfundi

    3 жыл бұрын

    I believe it’s 2019

  • @user-rg5yt6fo1d
    @user-rg5yt6fo1d10 ай бұрын

    Recently had a full time employee going from Salary paid weekly to part time with a reduced salary paid semi-monthly, I went to run the payroll the pay amount is double what it should be and no taxes are being withheld. I have ran the tax updates, how do I get this corrected?

  • @quickbooks

    @quickbooks

    10 ай бұрын

    Hey there. For any issues in regards to payroll, we suggest getting into contact with our Team. You can use this link to do so: quickbooks.intuit.com/learn-support/en-us/help-article/payroll-processes/contact-payroll-support/L08Yi5p07_US_en_US. All the best. -Kyle

  • @oscarrestrepo9339
    @oscarrestrepo93395 ай бұрын

    When I pay tips how is the calculation for social security y medicare

  • @quickbooks

    @quickbooks

    3 ай бұрын

    Great question! While I would love nothing more than to be the one to assist you, this question is better directed toward an accountant. Each business is different so you should have a CPA explain the best way to set up and manage your account. Best of luck. -Myshka

  • @MikeLaurie-hj5lc
    @MikeLaurie-hj5lc29 күн бұрын

    How do i know if my employer is paying into everything on my paystub ? How can i check ?

  • @quickbooks

    @quickbooks

    25 күн бұрын

    Hi Mike, You should be able to see what taxes are being withheld and paid by viewing your paycheck and W2 forms. After the taxes have been removed from your paycheck, the remittance and responsibility fall on the employer. You can review your Pay Stubs and W-2 forms to ensure that the amounts withheld match what was deducted from your paychecks throughout the year. I hope this helps. -Karey

  • @makeittrades5750
    @makeittrades5750 Жыл бұрын

    the lack of explanation on the 15-t table makes this video useless

  • @leebruttomesso7525
    @leebruttomesso7525 Жыл бұрын

    Slave teaching slaves

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