January 2008 Federal Tax Table Setup
for A-Systems JobView and Visual Bookkeeper Software
From the Setup menu, select Payroll Options. From Options, select Federal Tax Tables. The following screen will appear:
Fill in the highlighted fields as shown above. Your Federal ID number and G/L accounts are unique to your company. These you can find by pressing the ellipsis button next to the appropriate field.
The Personal Exemption Amount is found in Publication 15, Circular E, Employer's Tax Guide, Section 16, Table 5: Percentage Method--Amount for One Withholding Allowance.
The Social Security Rate, the Wage Limit, the Medicare Rate, and the Wage Limit are found in Publication 15, Circular E, Employer's Tax Guide, Section 9, Social Security and Medicare Taxes, Tax Rates and the social security wage base limit.
The Unemployment Rate and the Wage Limit are found in Publication 15, Circular E, Employer's Tax Guide, Section 14, Federal Unemployment (FUTA) Tax, Computing FUTA tax.
The Single Standard Deduction and Married Standard Deduction are found on the back of Form W-4, Deductions and Adjustments Worksheet, Line 2.
To insert the new numbers for the Federal Single Tax table, select the Single tax table and click the Change button.
The following screen will appear:
To insert the new numbers for the Federal Married Tax table, select the Married tax table and click the Change button, the following screen will appear:
Enter the minimum amounts and percentages as shown above. Press OK to save your entries.
The Federal Single Tax and Federal Married Tax are both found in Publication 15, Circular E, Employer's Tax Guide, Section 16, Tables for Percentage Method of Withholding, Table 7 (Annual Payroll Period).
For advance Earned Income Credit (EIC) payments, select the Earned Income Credit tab.
The Annual Limit (Single) and Annual Limit (Married) values are found in Publication 15, Circular E, Employer's Tax Guide, Section 10. Next, either insert each of the three tables listed or edit the values of each table if they have already been inserted. Enter values according to the following graphics:
The figures for these tables are found in Publication 15, Circular E, Employer's Tax Guide, Section 16, Tables for Percentage Method of Advance EIC Payments, Table 7 (Annual Payroll Period).
Technical Bulletin #512
