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We are no longer able to compile ExpressAccounting. We are close
to completing the conversion of ExpressAccounting to a newer version of the development
language and expect to complete the extensive conversion in 2008.
Because we cannot compile
ExpressAccounting, we are not able to provide automated updates for the
2008 tax tables. However users can easily edit the tax tables
manually to reflect the 2008 deduction requirements. To do so,
follow the instructions below.
Note: If your state uses tax tables you
may need to edit
your state tables in the same manner according to changes in your state
guidelines.
Follow these steps to edit the tax tables
for 2008.
1. Click on Navigate / Payroll / Setup
2. Click on the Setup Tab
3. Edit Social Security Limit figure to
$102000.00 as shown below. Post when completed.
4. Click on the Deduction Tables Tab
5. Click the Next button until the
Federal - Married table appears
6. Edit the data to reflect as the screen
shot below, post when completed.
7. Click the Next or Previous buttons
until the Federal - Single table appears.
8. Edit the data to reflect as the screen
shot below, post when completed.
9. Click the Next or Previous buttons
until the Fica table appears.
10. Edit the data to reflect as the screen
shot below, post when completed.
11. Click the Next or Previous buttons
until the Medicare table appears.
12. Edit the data to reflect as the
screen shot below, post when completed.
The deduction tables are based on the
Circular E provide by the IRS website at:
http://www.irs.gov/formspubs/lists/0,,id=97819,00.html
Below is a screen shot from page 39 of the 2008 Circular E.
Note that the annual percentages are all that are entered as
ExpressAccounting converts to the applicable pay period. Users
can easily update tax tables manually in a matter of a few minutes.
Note: If your state uses tax tables you
may need to edit
your state tables in the same manner according to your state guidelines.
W2 Printing
You will also need to edit the W2 report
as shown below. The locations of the employee's social security
number and the control number are swapped.
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