Date: Thu, 28 Mar 2024 22:36:57 +0000 (UTC)
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How do I enter withholding amounts?
How do I enter withholding amounts?
To enter withholding amounts
- In the Withholdings=
(or Withholdings to Date) field, enter or verify the amount of accumulated federal tax =
withheld to date.=20
- Tell me more
If you have the Tax Planner calculate your data based on recorded Quicken t=
ransactions, scheduled transactions, or year-to-date data, the Tax Planner =
displays a total for the entire year.
- In the Next Pay Date field, enter or verify the date you'll receive your next paycheck.=20
- In the Pay Period&n=
bsp;list, select the appropriate pay period: Every two weeks, Twic=
e/month, Monthly, or Weekly.=20
- What if Quicken already displays a value?
- In the Withholding Per Pay Period field, enter or verify the amount of federal tax currently =
being withheld from your wages each pay period.=20
- Tell me more
If you have the Tax Planner calculate your data based on a scheduled payche=
ck transaction, this reads Sched: Included. If you have th=
e Tax Planner estimate amounts based on your year-to-date daily average, th=
is reads Proj: Included.
- In the Projected Future Wi=
thholding field, verify the amount of projected total =
withholding per pay period multiplied by the remaining pay periods this yea=
r.=20
- In the Other Withholding field, enter the amount of federal tax currently being =
withheld from miscellaneous earnings such as unemployment, gambling winning=
s, and so on.
- In the Total Withholdi=
ngs To Date, Projected Future Withholding, Plus Other Withholding (includes Self and Spouse)&n=
bsp;field, verify the total carried over to the Less: Withho=
lding field. (This field is calculated automatically.)
- In the Tax Payment Summary area, verify the remaining =
tax due or refund based on your present withholding and any estimated tax p=
ayments.=20
- Tell me more
The Tax Planner automatically calculates this section.
- Projected Tax: The Tax Planner calculates this amount =
based on the data source in the tax profile.
- Less: Withholding: The Tax Planner copies this amount =
from the Total Withholdings To Date, Projected Future Withholding, Plus Oth=
er Withholding (includes Self & Spouse) line above.
- Less: Estimated Tax Payments: The Tax Planner copies t=
his amount from the Total Estimated Tax Payments and Refunds Applied line o=
n the Estimated Tax Payments page.
Notes
Remember that the purpose of the Tax Planner is to help you get a realistic view of your tax liability for the year=
. The Planning tab also includes a tool that is specifical=
ly designed to help you experiment with your withholding amounts=E2=80=94th=
e Tax=
Withholding Estimator. Use the Tax Withholding Estimator to see if you=
should be withholding more or less from your paycheck. To get to the Tax Withholding Estimator, click the Planning =
tab. Click the Tax Center button. Choose Tax Tools=
and then Tax Withholding Estimator.
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