withholding taxes from payroll

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i just read "withholding, who cares?" below.the IRS does, be sure when filing quarterly taxes that the information is correct, and that your payroll deductions correspond to the W-9 form each employee files when beginning employment.LLSubject: RE: Re: AccountingTo: practiceimprovement1 Date: Monday, April 28, 2008, 5:23 PM

I was told by Bank of America that their Bussiness Suite option includes free payroll and W2 for up to ?9 employees (free deposit if the employees have accounts with this bank too or you could print the payroll checks inexpenively) . The bank will send you reminder of qaunterly tax due-will bank transfer it for free too.

To: Practiceimprovement 1yahoogroups (DOT) comFrom: pierrepvmed (DOT) comDate: Mon, 28 Apr 2008 14:53:09 -0400Subject: RE: [Practiceimprovemen t1] Re: Accounting

Our practice management system, Alteer, handles invoices.

Very crappy invoices, but they are legible. :-/

So the $300+ copy of Quickbooks premiere, is not needed.

Buy the ~$140 copy of Quickbooks Pro instead.

The $200 is for the yearly subscription to quickbooks self-serve payroll, but as others have pointed out in this forum, you can put the numbers in yourself.

You have NO CHOICE to put in your unemployment compensation tax each year, because that is per employer and changes every year.

Primarily, you are paying for the latest Federal 941, and W-2, W-3 with the self-serve payroll service.

If you accountant is filing these for you, then the quickbooks payroll service is wasted cash.

Withholding? Who cares? J

It is always wrong, employees never know what they are doing with a w-4 anyway,

so paying to keep the deduction pennies accurate is not a bargain.

I pay for pro and the self-serve payroll, for click-click tax filing.

Could never figure out how to use Premiere for its budget feature, so I stopped using premier altogether

Hmmm, if you have to file FREAKy stuff, like earned income tax credit, etc, use the self-serve payroll.

But a solo-solo, and solo plus a few should not be hiring people who are EIC problematic.

Ummm, figuring out ways to legally no hire them of course. Anybody you pay only $10/hr who has kids, can easily fall into this category.

-tom

From: Practiceimprovement 1yahoogroups (DOT) com [mailto:Practiceimp rovement1@ yahoogroups. com] On Behalf Of Mike113593aol (DOT) comSent: Monday, April 28, 2008 8:44 AMTo: Practiceimprovement 1yahoogroups (DOT) comSubject: [Practiceimprovemen t1] Re: Accounting

I am curious if our costs are in line with others on this forum. We just purchased a Quickbooks 2008 upgrade for $300. We must do this about every 3 years. Our bookkeeper informs me that we need to purchase an annual "something" from Quickbooks for approx.$200 dollars. I believe it keeps the federal and state deductions and withholdings etc current since they change yearly. This allows her to quickly do our payroll inside of Quicken. So in all we are paying approx $300 yearly to Quicken to keep payroll "in house", for 2 MDs and 2.75 staff, plus the time it takes for bookkeeper to do enter biweekly payroll in Quicken. She claims this is minimal, perhaps 15 minutes, if quicken is current in system. Checks are printed and given to staff.No matter whether you keep in house, or send to a payroll service, one

still must verify and total hours worked, seperate vacation and sick time, etc.Is this in line with what others are paying for Quickbooks?Mike Safran, MD

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