It is the end of financial year and now is the time you closed your company accounts. It’s time for the tax payment now. That’s the only reason usingpos.com is at your service to Sage 50 support you to make you understand. It is not that difficult to get crystal clear understanding of Sage software and to know how the software functions in genuine scenarios.
Understand Sage 50 2018 Tax Updates
Salient Features of Sage 2018 Tax Update:
Federal Tax Changes: No new schemes or changes in previous policy is introduced by the Government in its Federal Income Tax Withholding. 2018 will take all the tax rates from 2017. For further assistance and queries, get in touch with our technical support team.
List of Changes that are Made by the Government.
- There is a hike of $128,400 in Social Security Wages.
- There is a revision in retirement plan limits from 2017.
- There is an escalation of $2,650 in Flexible Medical Spending Account.
- Adoption Flexible Spending Accounts remains to only $13,840 now.
Tax Payroll Forms
There is an update of Financial tax doc in the payroll selector window. If there is payroll tax update required, either select state tax or federal tax and then click on OK.
It is mandatory to get your software updated to get all the federal and state tax withholding.
Steps of Sage 50 2018 Tax Update
- In the menu, click on the Rules and then click on the Payroll.
- Now, in payroll option, click on System Tax Tables.
- Here, at the left side of your monitor, click on the Update Tax.
- Now, you will see Payroll Update Page You will get all the changes in your local tax policy and federal tax policy. You will witness all the changes that were previously not there or activated in the software as they are displayed.
- Now, take care of reading and understanding all the tax updates which will be shown in the table. Now, update the process on the table and then select install.
- Click on the tax tables that requires update. Select OK and then click on the update.
- Now, reboot your software and then reboot your system. Now, click on Sage 50 2018 payroll and then click on update.
Our Sage Support System for You:
Here we are to Sage 50 technical support you on the errors that you may face in your software. Call us on our round the clock Toll-Free Number Service, go for Sage 50 Live Chat with us to connect with us. If you send us email on support@usingpos.com, our team will get back to you with all respective information.
FAQs
What is Unemployment Tax Refund Update
The American Rescue Plan Act enacted on March 11, 2021, allows you to exclude from income up to $10,200 of unemployment compensation. This is a very big help for people who are unemployed and filing for the first time.
Child Tax Credit 2022 Update Today
The Internal Revenue Service has announced that they will be changing the system of how they handle the Child Tax Credit payments. In the second half of 2021, individuals will be able to receive their payments as a lump sum in one tax filing and then receive their individual monthly payment once taxes have been filed. This will make it easier for people who need money before their tax filing date because their income might change throughout the year.
How to Use IRS Update Portal to Sign up for Direct Deposit
After signing up for direct deposit, the IRS will send payments to your bank account. This can be accessed with the update portal. This is a great tool for those who wish to easily log in and view their tax refund or payment information.
