Help Me With Sign Hawaii Banking Form

Help me with industry sign banking hawaii form simple

welcome to 2021 we're not there yet it's 2020 when i'm recording this video but it will be 2021 pretty darn soon and maybe when you're watching this video so let's talk about tax rates let's talk about the beautiful state of hawaii one of the states that i have never been to as soon as all this coveted stuff calms down and everyone gets vaccinated i'm definitely gonna swim to one of the islands and check it out because i've heard nothing but gorgeous things so we're gonna talk about hawaii tax today how to calculate hawaii tax what you're looking at is the coolest payroll file in microsoft excel ever built in the universe ever that's right yup you can hold me to that it's going to have all 50 states before 2021 starts we are alphabetically on hawaii so i got a lot of work to do but hawaii's done and it's pretty easy so we're going to talk about hawaii today so what you need if you have an employee if you're blessed to be in the state of hawaii what you're going to want to do is you're going to want to have your employee fill out a hawaii w-4 form i have some links in the file they're going to pick a status right here you know single married married if they want to hold at the single rate which is just like calling them single or if they're not taxable because of disability or for military spouses as well non-resident military spouses i guess don't have to pay tax and then they're going to pick the number of allowances which they're going to end up putting in in four here in line four and go through and figure out what their allowances are similar to the old w-4 so that number is what's going to go right here now in this payroll file we can toggle and see many different states and what the what they are asking for in these titles here so with hawaii when you toggle and choose why it's um my face is probably in the way sorry you can toggle this um and choose different states you know george is asking for dependent allowances why is just asking for that one set of allowances and this secondary allowance thing is not even used so you just put the number of allowances and also you choose the filing status from a drop down menu over here which i have set up once you do that calculating the tax rate says actually reasonably pretty easy so they've updated the last time they updated was 2013 and in 2013 they issued this but this is a revised version of their tax rates for 2020 they uh they may issue something in 2021 if they do i'll update it but i don't expect it to change based on the way this has been effective since 2013 so i probably would have heard something if they had they're doing any changes in 2021. so there's two different rates and what you need to do is you need to annualize the wages so you take the gross wages or the federal taxable gross wages for the pay period you multiply it by the number of pay periods in the year we're looking at a weekly pair so we're this person's annualized wages are 63 000 after you subtract out their number of allowances which was this number right here times 1144 i believe that is the allowance amount for hawaii there it is at least it wasn't 20 20. we'll see if it stays the same in 2021 i expect it to uh actually i don't know the answer for that it might change 11 1144 so you're just going to multiply that by the number of exemptions or allowances and then you're going to end up getting a taxable wage base right here then you can apply one of those two formulas really it's going to be this this one for single people and it's going to be this one for married and the way you can write this as a formula inside of the cell is by using something called a nested if formula that's what this is up here look at a little bigger looks at it like this and all it does is saying if the amount of annualized wages is less than a certain amount do this to it multiply it by a percentage if it's less than this amount add a little bit then multiply the residual by a percentage that's what this nested it does you don't have to do it because i did it for you and you do it if you're single dude if you're married and then you choose which taxes related to which filing status and you bring that forward to the pay stub so you end up with a pay stub like this you just turn around and change people marion barry is not in hawaii he's in georgia but chuck brown is in hawaii and there's his check and of course all these uh just like all the other states and everything else this payroll file does you have state reports um you choose hawaii and there you would have your wages your withholding tax and um looks like all that's all there is i didn't see any paid family leave i didn't see anything every state has unemployment so the at least in 2020 the first the first here it is the first 48 100 wages were taxed at a certain unemployment rate so whatever the unemployment rate is especially now covet really has affected a lot of different industries related to tourism so i wonder if the unemployment rate like in most states is probably going to be going up and assigned to you next year so that's where this would go but other than that hawaii is pretty easy uh five minutes that that's not too bad so just two rates but if you're interested in this payroll file and you have a small business and you're in hawaii or any other us states um contact me because we are coming to the home stretch here we are seven days away from 2021 and i you'll be seeing videos with a lot of different states coming very fast that's why we're going to do iowa idaho illinois indiana kansas kentucky i've done all these states already i never know i haven't done louisiana it's a new one i got to do massachusetts is pretty annoying i haven't done it a couple years maryland has different counties i'll stop talking tax talk is boring but you're going to see i'm going to get it done and and like i said the coolest payroll file on the face of the universe you can always do that so good luck everybody apparel should be easy so make it so