SyncBooks automatically calculates and withholds all required payroll taxes.

Federal Taxes

• Federal Income Tax: Based on W-4 withholding allowances
• Social Security: 6.2% (employee) + 6.2% (employer) up to wage base
• Medicare: 1.45% (employee) + 1.45% (employer)
• Additional Medicare: 0.9% on wages over $200,000
• FUTA: 6% on first $7,000 (employer only)

State and Local Taxes

Automatically calculated based on:

• Employee work location
• State withholding certificates
• State unemployment insurance (SUI) rates
• Local income taxes (if applicable)
• State disability insurance (SDI) where required

Tax Filing Schedule

SyncBooks handles all tax deposits and filings:

• Federal Deposits: Semi-weekly or monthly (based on deposit schedule)
• Form 941: Quarterly federal tax return
• Form 940: Annual FUTA return
• State Returns: Quarterly or monthly (varies by state)
• Year-End Forms: W-2s and 1099s by January 31