As a retail shop owner, can I do payroll by myself? -

Hello! As a retail shop owner, can I do payroll to my employees myself, without any contract with payroll companies?What is the rules and what should I track for tax wise?Thanks for your kind information!

Yes you can, and simple way with quickbooks (Saving some time..)In my experience and Opinion the easy way is to use QuickbooksIf you have it already (and 90% of case you do).. here is the how ..You can do your payroll in QuickBooks without subscribing to the fee-based Intuit Payroll Services, but it means you have to calculate the deductions manually. This can be onerous unless you have only a few employees, and all or most of them are on salary or are hourly workers whose hours don t change every week. Here s how to set up and configure QuickBooks for do-it-yourself payroll services without paying for the tax tables that provide automated paycheck calculations: Choose Edit - Preferences and go to the Payroll Employees section. Select Full Payroll and click OK to close the Preferences dialog. Choose Employees. If this is the first time you ve accessed the Employees menu, the Set Up Payroll window opens automatically. If you ve already begun setting up payroll, choose Employees - Payroll Services - Set Up Payroll. Select Choose a Payroll Option. In the Payroll Setup Options window that opens, select Do-It-Yourself Payroll. At the bottom of the window, look for the sentence that begins If you don t want to use an Intuit Payroll service.... Click the link labeled Learn More. In the window that opens, click the link labeled To Calculate Payroll Taxes Manually. Read (and print) the instructions, and then click the button labeled I Choose To Manually Calculate Payroll Taxes. You re returned to the Payroll Setup Window, where the option to sign up is no longer required. Go through the remaining options to set up your payroll items and taxes. To issue paychecks, select each employee and enter the gross wages. Enter the deductions, using a minus sign for each amount. For federal withholding, use the Tax Rate Schedule or Tax Table from Circular E, which the IRS sends to every employer each year. Hope this help ..Good luck and have a great day..