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Call A.B.S. if you have questions and or Problems.
Payroll Tax changes for year 2008. Please make these changes ONLY after you have CLOSED THE 4TH QUARTER and PRINTED & UPDATED your PRE W2 register. You MUST do this BEFORE processing your 1st payroll of the year 2008. Please VERIFY ALL 4th quarter reports & PRE W2 registers are accurate! Call A.B.S. if you have questions & or Problems.
#1. Social security ceiling raised to 97,500.00
a. go to main menu (GENERAL ACCOUNTING SELECTOR)
b. Select #1 (COMPANY INFORMATION)
c. Enter Company id & choose #4. PAYROLL
d. Verify Company id # Federal & State are correct
e. Enter change line to correct. If all is ok enter for change line and enter for correct (Y/N). RESPOND P/R CHANGES FINISHED? WITH N
f. Change field # 10 FICA WAGE LIMIT FIELD to 97,500.00
g. Hit enter for change line and enter for correct to save then F4 to menu system.
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Federal Tax Table Changes
a. go to payroll file maintenance menu
b. Select option #19 Tax Table File
DEPENDANT EXEMPTION
RECORD TYPE? (F/S/C/O): F
STATE ID:
1. STANDARD DEDUCTION %: 0
15. TAX CREDIT STATUS 0: 0
2. MIN. STATUS 0: 0
16. TAX CREDIT STATUS 1: 0
3. MIN. STATUS 1: 0
17. TAX CREDIT STATUS 2: 0
4. MIN. STATUS 2: 0
18. TAX CREDIT STATUS 3: 0
5. MIN. STATUS 3: 0
6. MAX. STATUS 0: 0
19. TAX CREDIT PER EXEMPTION: 0
7. MAX. STATUS 1: 0
8. MAX. STATUS 2: 0
20. FEDERAL W/H DEDUCTION %: 0
9. MAX. STATUS 3: 0
21. MAX. STATUS 0: 0
22. MAX. STATUS 1: 0
10. PERSONAL EXEMPTION 0: 0
23. MAX. STATUS 2: 0
11. PERSONAL EXEMPTION 1: 0
24. MAX. STATUS 3: 0
12. PERSONAL EXEMPTION 2: 0
13. PERSONAL EXEMPTION 3: 0
14. DEPENDENT EXEMPTION.: 3400
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After entering the dependent exemption depress the <f2> key at RECORD TYPE and the following
screen should display.
Change the figures to match the following:
FEDERAL / SINGLE
RECORD TYPE? (F/S/C/O): F STATE ID: S
BASE TAX CUTOFF TAX % RATE
1.: 0 16.: 2650 31.: 10.00
2.: 765 17.: 10300 32.: 15.00
3.: 4314 18.: 33960 33.: 25.00
4.: 15755 19.: 79725 34.: 28.00
5.: 40052 20.: 166500 35.: 33.00
6.: 99999 21.: 359650 36.: 35.00
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FEDERAL / MARRIED
RECORD TYPE? (F/S/C/O): F STATE ID: M
BASE TAX CUTOFF TAX % RATE
1.: 0 16.: 8000 31.: 10.00
2.: 1555 17.: 23550 32.: 15.00
3.: 8845 18.: 72150 33.: 25.00
4.: 25270 19.: 137850 34.: 28.00
5.: 44828 20.: 207700 35.: 33.00
6.: 96770 21.: 365100 36.: 35.00