Don't stress about your tax tables - we're here to show you how to manually update your Peachtree tax formulas. One of the big advantages of using Peachtree accounting software is that there is no annual fee required to run payroll. If you'd prefer to manually update your tax formulas at the end of each year, Peachtree gives you that option.
We support all versions of Peachtree for Windows up through r2012. This includes v8, r2002, r2003, ... r2012. Unfortunately, tax formulas in Sage 50 r2013 and later can not be manually updated.
We provide much more than the minimum information you'll need - our e-document includes screen images of tax tables and formulas from Peachtree and very clearly lists the steps required to manually setup all your federal payroll taxes.
We update our documentation each year, so the latest values for federal taxes are always shown. Because this is an electronic document, you'll be able to copy federal tax formulas directly from our file and paste this information directly into your Peachtree program. You'll need to do only minimal keying of text. Our system can be used for every state in the USA and works in Puerto Rico too.
Even though we could cover the basic tax table entry and update process in just a few pages, we've designed our e-book to be as through as possible.
In addition to first time preparation and annual update of your tax tables, we also show you how to update your other formulas for the new year - for example 401k, employee loans, and health insurance.
While we don't provide exact formulas for calculating state income tax, we devote over 10 pages of our e-book to various approaches you can use to create your state withholding formulas. Most small companies will find one of the options presented suitable for updating their state income taxes manually.
For example, we show how many companies can figure their state withholding by setting up a fixed dollar or a fixed percentage deduction. On the other hand, if you've used the Peachtree payroll service in the past, we show you how to update and use the same formulas in the new year which Peachtree used for your company in past years.
We have a section which shows you how to test your work and confirm that the tax formulas you have entered are accurate. In case things don't go right on the first try, we include a question and answer section where you can see common problems and their solutions.
In addition to all this, we have a section on understanding and interpreting Peachtree's Tax Liability report and another section on printing W-2's.
You can do this yourself! The following is taken directly from Peachtree's help screen:
"If you do not subscribe to any of the payroll tax solutions, you would set up your federal, state, and local tax calculations in User-Maintained Formulas."
Well folks, this is exactly what we show you how to do.
Our guide to manually preparing payroll tax formulas works for any version of Peachtree for Windows. With our service, if you choose to, you can keep on doing payroll - even without upgrading your version of Peachtree.
Following our steps, the first time setup of federal payroll tax formulas and tables takes about 45 minutes, depending on the skill and experience of the operator. In test trials at our office, we found that a new company with no payroll experience could print it's 1st paycheck in only 15 minutes.
Some people who don't have internet or e-mail at work prefer to have us go though the steps with them via phone. From start to finish, including test - this generally takes about 45 minutes.
Also, consider this - the setup of Peachtree federal tax tables becomes even easier in subsequent years since the figures from the prior year only need to be slightly modified. For example, the wage limit for FICA must be increased each year and the step increases for FIT Single and FIT Married will be modified as well.
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We will work with you by telephone as you go through the setup process, or you may do the setup on your own by following our steps. Either way, the cost for us to help you setup your federal tax formulas and tables for peachtree is $87.00. In the following years, you may either make all changes yourself from the Circular E (IRS Publication 15) or we will be happy to help you enter the new information. We will update our e-book each year with the new federal tax information - which you can then paste into your Peachtree program to update your tax formulas and tables as needed.
This is what one of our clients recently said about our service: "Thank you James, For a first time Peachtree user, ... tax table was well worth the peace of mind! Thank you very much!"
This offer includes tax formula setup information for 2023 along with free phone assistance with remote screen sharing if needed.
Also included are:
• Special Situation Emails informing you of anything which we have become aware of that may affect your Peachtree payroll.
• A December email which will also give you a chance to reorder for the new year at a discounted rate.
Note: Click here to see the scope of coverage included with the purchase of our e-document.