Payroll Services Arlington MA

This page provides relevant content and local businesses that can help with your search for information on Payroll Services. You will find informative articles about Payroll Services, including "What Is A Payroll?" and "How Do I Calculate Payroll?". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Arlington, MA that can help answer your questions about Payroll Services.

Accounting Bookkeeping Plus
(617) 723-6555
10 Thacher St
Boston, MA
Sara Campbell Ltd
(617) 423-3134
46 Plympton St
Boston, MA
(617) 245-0660
121 High St
Boston, MA
MKG Accounting & Bookkeeping Services
(781) 856-7713
9 Van Norden Road
Reading, MA
Advantage Payroll Services
(978) 318-9990
747 Main Street, #222
Concord, MA
ADP-Automatic Data Processing Inc
(781) 350-5890
699 Boylston St # 699
Boston, MA
Accountants On Call
(617) 426-4400
99 Summer St
Boston, MA
Consolidated Financial Services
(617) 569-2146
296 Bennington St
Boston, MA
Saratoga Insurance Agency, Inc.
(617) 567-1100
452 Bennington St
Boston, MA
New England Chemical Company All Of New England
(800) 848-3284
New England
Boston, MA

How Do I Calculate Payroll?

When you hire employees, or when you begin to work

for yourself, you are going to need to learn how to calculate payroll. The process is relatively easy if you follow these specific steps.

The first step is to calculate the gross earning for the employee. As an example, if you are paying them $3,000 per month, their annual salary would be $36,000 (3000 x 12). The next step is to divide this number by the number of weeks in the year, or 52. This gives you a weekly salary of $692.31. When you divide this by 40 hours in a week, this gives you an hourly salary of $17.31.

Now take the gross salary for the week, and consult the Federal Income Tax (FIT) table. There will be a different sheet for each marital status, and check the line that covers the salary range. On the form, scroll to see how many dependents they have, and make the deduction accordingly. The tax for Social Security will be 6.2%, and Medicare taxes will be 1.45%. Now that you have the deductions figured, subtract them from the gross pay, and this will tell you how much the employee will take home.


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What Is A Payroll?

A Payroll is defined as the sum of each and every financial records related to the salaries of an employee, wages, bonuses and deductions.

In accounting, payroll refers to the total amount which is paid to the employees for their services during a set period of time. Payroll plays a significant role in an organization due to several reasons. Payroll is also important in calculating the payroll taxes and net income of most of the companies. In business organizations, separate payroll department have been set up in order to pay the salaries of the employees accurately and on time with proper withholdings and deductions.

Payroll records are generally based on objective criteria like timecards and federal tax forms. Payroll is often calculated by a payroll accountant either manually or by the use of computer program. A payroll account also gains importance when the company is not running in profits so that employees can be compensated for their services.


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