401-K and Pensions


wants to do retirement fund withholding. How to use MacNail construction payroll software for 401K 401-K pension plan as deductions from employees.


401-K plans don't affect social security withholding, but they should be deducted from the taxable income for federal withholding


1. Open the payroll blank
2. Unprotect the worksheet
3. Rename the 'other' column to 401-K. Also check what column letter it is (perhaps column P)
4. Scroll over to the right until you get to the Fed Allow column. Formula is something like =MAX(0,I2-allow*Y2)
5. change that to =MAX(0,I2-P2-allow*Y2)
6. Protect worksheet and save changes

DO SIMILAR FOR STATE WITHHOLDING-- generally done on the far right somewhere, but possibly in state withhold column. Browse thru formulas and find the one that refers to column I2 (the taxable wage column)


Entered 2/10/97 by Casey. Updated 11/22/2010.