Keep me posted in the comments if you have other payroll concerns and questions about simple IRA deductions in QBDT. This article has the step-by-step process and details on setting up benefits using both EZ and Custom Setup in QBDT for 401(k), Simple IRA, etc. Enter a brief description of your issue, then select Let's Talk.Īlso, you may want to check out this link: Set up a payroll item for retirement benefits.Go to the Help menu, then select QuickBooks Desktop Help.

They can review your account and examine your setup. However, if this isn't the problem you're facing, I recommend getting in touch with our Customer Care Team. Pre-tax insurance premiums are taken out from the gross pay before other taxes are calculated. Simple IRA is calculated based on the deduction types you've already set up. I can share some information on how SIMPLE IRA is calculated in QuickBooks Desktop (QBDT), bazinetcpa. They other problem is that QB obviously doesn't care to inform it's users of the issue or figure out how to fix it. I agree that the money isn't worth the cost. I spent an hour with Payroll help on this issue and was told that I should contact a CPA for my problem because they didn't think the deduction should show as a negative on the employee's pay check!!! They also told me to send a 'debug' message through the 'Help' drop down menu-that's all they could do for me. The problem with QuickBooks is that people who work for them are not accounting professionals. The supposed Expert went along with QuickBooks regular setup instructions said nothing about the tax calculation issue. I watched an online youtube video regarding how to set up a SIMPLE IRA from a supposed QB Expert to make sure I wasn't missing something. I feel sorry for the many people who are not accounting professionals who trust that QuickBooks knows what it's doing- these people may be under taxing & reporting to the IRS!!! QB must be well aware of this problem by now, but choose not to deal with it or inform their employees about the problem. Just post your questions here, I'll respond as soon as possible. I'm still here if you have other questions regarding your payroll service. Please check out our other help content for guides in managing your employees, and running payroll. Check this article for more details: Run payroll reports. If you'd like to know the year-to-date payroll amounts of your employees, you can run a variety of reports. You can also check this article if you need help setting up your SIMPLE IRA deduction: Retirement plan deductions/contributions. This article explains more how to add or change pay types and deductions in QuickBooks Online Payroll: Add or change pay types. However, if you don't have any pre-tax insurance premiums, then the IRA contribution will be taken out first. We're unable to change how the SIMPLE IRA is calculate in QuickBooks Online Payroll. Pre-tax insurance premiums are taken out first from the gross pay before other taxes and deductions are calculated. It depends on the deduction types you've already setup. I have information on how SIMPLE IRA is calculated in QuickBooks Online Payroll. I'll be here if you have other questions. To ensure we address your concern on time, check out our support hours, and on how to get in touch with us so we can help you further. You can also click this link for more details about retirement plan deductions and contributions in QuickBooks Online Payroll.

After that, recreate the paycheck to see if Simple IRA is correctly calculated. Then, we can sign out and sign back in to refresh QuickBooks. Review if Retirement Plans is selected under the Deduction/Contribution type.Then select the pencil icon for Simple IRA. Select the pencil icon in the Pay section.Select the Workers or Payroll menu, then select Employees.To review the setup to an employee, you can follow these steps: Amounts withdrawn from these plans after retirement are subject to income taxes. However, they're still subject to social security and Medicare taxes. This means that deducted amounts are exempt from federal and state income tax withholding when processed through payroll. We can verify the Simple IRA setup, hburgnm.

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