Do you have an employee you have hired
after February 3 and before January 1, 2011? You may be
eligible to save the employer share of social security taxes
(6.2%) on wages paid March 19th through December 31st 2010 if the person you hire
can sign an affidavit
(Form
W-11) stating they have not worked more than 40 hours
during the 60 days before beginning employment with that
employer.Qualified Employee: New Employee has worked less
than 40 hours in the previous 60 days
Eligible Job Position- any new job position where the
opening was created as a result of new position or
internal promotion.
It does not apply on employees who are hired to replace an
existing worker (unless that worker voluntarily left
employment orw was terminated for cause.
Many small businesses are just becoming aware of the tax
savings as they file the newly revised Form 941, which means
you may receive a refund on your 1st or 2nd qtr 941 form. To
set up your QuickBooks payroll so that you do not not remit the employer
portion of Social Security taxes for the third and 4th
quarters follow the instructions below from within your
QuickBooks.
| Step 1 |
Sign into QuickBooks as
Admin User and place QuickBooks in single user mode |
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| Step 2
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Employee menu> Select payroll
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Step 3 |
Select
Employee Setup > Employee List > highlight the name of
the employee who qualifies > Click Edit
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Step 3 |
Hire Act: Employee
Hire Dates- Click Next to arrive at following screen
> Enter a hire date between 2/4/10and 12/31/10
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| Step 4 |
Hit the Next button 6 times
> at the federal tax information window in the HIRE Act
exemption field
Select Qualified employee
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Did you know
QBalance offers a dedicated
QuickBooks Guru to your company with the
purchase a support plan?
Answers to all your QuickBooks
problems and issues can be resolved for a simple phone
call to your dedicated support rep who is also a
CPA and advanced QuickBooks advisor? Our support
contract is reasonably priced, we can log into your
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regulations - let us be your "big sister/big brother"
helping you keep an eye on things-Call 800-216-0763 and ask to speak
to one of our GURUs for more information. |
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Learn more about Payroll rules |
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QuickBooks Help
Big
savings on QuickBooks checks!!! $65.95/500
$96.95/1000
This page is dedicated to setting up
QuickBooks for the HIRE ACT- Save 6.2% on Social
Security taxes |
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