Have you ever found yourself in a situation where an employee is changing their W4 and asking you how this will affect their payroll check? The tool called Tax Estimator can be helpful in seeing these changes - without having to process a payroll.
1. Go to Utilities/Tax Estimator.
2. Find the employee by entering their SSN, ID, or name in the Employee field and click Find Employee.
3. Move all compensations involved to the Selected (right) side.
4. If the employee is not currently using the new W-4, unclick the Use 2020 W-4. If the employee is already using the new W-4, leave the Use 2020 W-4 box checked. Click Fill Data.
5. Then select Calculate. The current Federal, Ohio, and School District withholding amounts will be displayed.
6. Next check the Use 2020 W-4 box.
7. Enter the information on the employee’s W-4. Click Calculate.
8. The tax amounts withheld prior are listed in the Previous Estimation column and the new calculations are listed in the Current Estimation column.