Setting up a business is no easy work. It takes dedication, hard work, and a calm and composed mind that is full of patients. Once, your business is up and running, the best way to keep it organized is by using automated software that helps you to deal with them in a better way. One of the software that helps you to keep your business accounts organized is the quickbooks w2 Desktop.
QuickBooks Desktop is a software that is quite extensively used in the business sector, for the proper organization of financial statements and transactions. It is regarded as an accounting software similar to that of an ERP solution. The software has many add-ons that make it very essential and benefit the users a lot. These add-ons allow the user to generate automated payrolls, CRM’s, etc. The quickbooks w2 forms desktop is available in many different versions, which are differentiated based on their purpose. The software allows the user to record bank transactions with the help of feeds that the bank provides with its online banking factor.
This allows you to actively coordinated with your bank and be updated with every transaction in the business name. One such feature of the QuickBooks Desktop is its ability to easily comprehend the payrolls and roll out the taxation process easily. The QuickBooks Desktop coordinates with the revenue that has to be paid as taxes and allows the generation of W-2 forms very easily. In this article we are going to discuss about how to print a w2 from quickbooks. So, keep reading it till the post.
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What is a W-2 tax form?
Every earning citizen of any of the country has to pay an income tax annually, this amount works as a benefactor sum which the government takes from the citizens and then uses the sum to develop the state, country. However, when you are an employee, you don’t need to worry about paying taxes, your employer deducts the amount from your pay check and files your tax for you. Therefore, an employer needs to give a detailed account as to how much of the amount is being deducted from the employee’s wages as tax. This is where a W-2 form comes in.
A W-2 form provides you with a detailed account of the amount that has been deducted from an employee’s account on an annual basis, which is then used to file taxes. A QuickBooks Desktop allows an employer to easily develop this form for their employees.
Why is it important to withhold tax?
If you are an employer, you have to deduct some of the amounts from your employee’s salary, to file taxes. However, the sum that is deducted is transferred to the IRS, at the end of every month. The employee is not always aware that his employer takes a certain sum from his pay check and files his federal taxes every month.
Therefore, at the end of the year when you are calculating the returns, the W-2 form helps you to calculate the accurate amount.
Why is it important to attach a W-2 tax form?
It is very important to attach a W-2 tax form to the payslip, you pay to your employees, at the end of the year. It allows you to keep in check the amount that has been assimilated as tax and differentiate it from the returns. Additionally, if you are an employee, the W-2 form will help you to understand the tax deductions that have been made from your salary slip. The W-2 form should always be attached to the salary slip paid at the end of the financial year.
Steps to
how to print w2 in quickbooks Desktop
Printing a W-2 form with the QuickBooks Desktop is very easy, and can be easily handled well. Therefore, let us go through all the steps to generate a W-2 form.
Open the QuickBooks software on your desktop.
Go to the Payroll Tax Centre.
Select the Employees option and then click on Payroll Centre.
Now go to the tab File Forms and select the View/Print Forms & W-2s option.
Now, enter the payroll PIN.
After this step, click on the next W-2 tab.
A list of employee’s details will open in a dialogue box, select the employee’s name whose form has to be generated. Or, select all, from the checkbox.
Select Open/Save Selected.
A Print Instructions page will appear, specify the reason for printing the form.
A print dialogue box will appear which will ask you to load the paper into the printer. It is very essential to provide your employees with instructions that they need to follow to file taxes. Therefore, it will be beneficial to load papers which have instructions printed on them, for the ease of the employees.
A detailed version of the file will open in a pdf file format. Go through the document carefully, if everything is correct, print the form.
Go to File and then select Print. And printing w2 from quickbooks
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