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Payroll Tax Withholding
Employers are required to withhold state (not in Florida), federal, social security and Medicare taxes from employees paychecks.
The Paycheck amount should be Gross wages minus…
- Federal Withholding
- State Withholding (if any)
- Social Security Tax
- Medicare Tax
The amount of federal withholding is calculated by taking the number of exemptions the employee claims on his W-4 and finding the corresponding deduction on the withholding tables.
To print a W-4 for your employee for complete, click below.
To print IRS tables to calculate Federal Tax withholding, click below.
Social Security Tax is 6.2% of the gross wages for 2018.
If gross wages for 2018 exceed $128,400, no further social security tax is deducted.
Medicare Tax is 1.45% of the gross wages for 2018
Wages are uncapped for medicare tax.
Additional Medicare Tax of 0.9% for a total of 2.35% on high earners in 2018.
On wages over $200,000 for Singles and $250,000 for Married Filing Jointly.
Efficient Payroll Tax Withholding Services
Our Tax Filling services go beyond the ordinary, offering comprehensive guidance tailored to your unique vision.
Timely Payments
Compliance
Accuracy
Time Savings
Record-Keeping
Employee Benefits Management
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We’d Love to Help You With Payroll Tax Withholding
Company Information
(727) 466-9575
info@tampabaytax.com
Hours of Operation
Mon-Fri 9:00am - 5:00pm
St. Petersburg, FL
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Pinellas County FL & Surround