What is Sage 50 2018 Tax Update & How to Use it?
End of financial year is about to come and it is the right time to close your company accounts and get prepared for tax payments. That’s why smbaccountants.com is here to help you. Even a layman can easily understand Sage software and if any problem arises in the process, we have various contact channels for our customers to make their functioning and process smooth. Upgrade to Sage 50 2018 now improve your business performance with the Sage 50 2018 updated tax policies. Get you Sage 50 serial number and activation key now.
Understanding Sage 50 2018 Tax Update
Here are some of the salient features of 2018 Tax Updates:
Changes in Federal Tax: The Government has not introduced any significant changes in the Federal Income Tax Withholding. Tax rates applied in 2017 are still applicable in 2018.
- The social security wage base in 2018 is escalated to $128,400.
- Retirement Plans Limits are revised from 2017.
- Flexible Medical Spending Account has been escalated to $2,650.
- Adoption Flexible Spending Accounts still stands at $13,840 now.
2018 Payroll Tax Rate
Financial tax documents are now updated in the selector windows of 2018 Payroll Tax Rate. If you want to update payroll tax, click on federal or state tax and then click on next.
You will get an update, following which will update all the tax forms. It is recommended that you update all the forms 2018 sage payroll update.
Process to Get Sage 50 2018 Tax Updates
To get sage 50 2018 tax updates, You need to follow the mentioned below steps:
Total Time: 8 minutes
Go to menu, click on Rules –> click on payroll
Open system tax tables in the payroll option.
Now, click on install tax update which is on the left of the screen.
Here, the payroll tax update page will open. A new window in Sage 50 2018 payroll update will display all the changes that you have made in the federal and local tax policy. Any changes which were not previously activated in the software will be activated and update will be displayed.
You need to carefully read and understand all the tax updates which are displayed in the table. Now, click on the update which are applicable on your business and then click on to install.
Once you have select all the tax tables that need to be updated, click on OK and update all the tables.
Restart your software and computer. Now, launch Sage 50 2018 payroll update with new updates of tax.