As of August 2015, free payroll tax calculators are online at Paycheck Manager, Intuit QuickBooks, ADP, PayCheckCity and SurePayroll. Employers typically begin using these services by inputting the tax year and state. Sometimes employers must include state-specific information about workers, such as number of allowances and additional state withholding.Continue Reading
Payroll tax calculators require an employee's salary information, according to Intuit Quickbooks. This includes the pay period, such as weekly, bi-weekly or monthly, and pay type, which is typically hourly or salary. In appropriate cases, the calculator needs overtime, bonus and commission data. Gross salary and gross year-to-date salary are sometimes identified, as ADP shows.
Federal tax details are important, such as filing status, income tax withholding, Social Security and Medicare taxes, exemptions and allowances, Paycheck Manager reports. Pre-tax adjustments of elective deferrals, such as 401k plans, and nontaxable health insurance deductions are other possible deductions.
A payroll tax calculator estimates net pay after taxes and other deductions, states ADP. Some programs have glossaries or links that provide definitions of important terms, as SurePayroll displays. The service occasionally includes federal withholding charts for single and married taxpayers. Certain versions create graphic representations of an employee's salary distribution. For example, a color-coded pie chart displays both the large chunk of net pay and all the small slices that have been withheld.
PaycheckCity also features a bonus pay calculator that computes bonus pay deductions using either the aggregate or percentage methods. The site also provides an online W-4 calculator that determines the appropriate federal and state withholding amounts, and a 401(k) calculator that computes how increasing contributions to a 401(k) can affect a user’s paycheck and retirement savings.
Paycheck Manager features a free payroll calculator that provides users with straight-forward and state-specific payroll information. It displays the rates as well as amounts for each tax or withholding, and shows year-to-date totals. It can also use the employee payroll information to compute the employer’s tax contributions. The site uses secured servers to save information and includes software to prepare, view and print paychecks, payment vouchers and payroll reports.Learn more about Taxes