Boxes A-F:The lettered boxes on a W-2 include the name and address of the employee and employer, Social Security number, and employer's EIN and state ID number. Boxes 1-2:Box 1 shows taxable income, including wages, salary, tips, and bonuses, while Box 2 shows how much federal incom...
Box 4: Shows the total Social Security taxes withheld from your pay for the year. Unlike federal income taxes, Social Security taxes are calculated based on a flat rate of 6.2% for employees. Box 5: Indicates all your wages and tips that are taxed for Medicare. Box 6: The total amount...
If you must report Social Security tips (Box 7), the total of Boxes 3 and 7 must be less than the Social Security wage base. W-2 Box 4: Social Security tax withheld Box 4 reports how much you withheld from an employee’s Social Security wages and tips. The employee portion of Soci...
Box 3Social Security wagesTaken from the FICA Soc Sec Wages Year To Date field in the Employee Summary window. The system checks the maximum Social Security wage limit at the time the Year-End Wage File is created to be sure it hasn’t been exceeded. If the maximum wage limit has been...
When you have Cafe 125 reported on your W-2, this should not change how you prepare your tax return. The money set aside for selections you made in your work’s cafeteria benefits plan should already be subtracted from the total amount of your wages reported in box 1 of your W-2. ...
I finally got the right amount for my 2023 wages repeated back to me during this phone conversation. Her name was M.J. and she assured me that I would have my w2 the next day. I give up with yall. Your different ticket numbers for each phone call,...
The W-2 form you receive from your employer each year is fairly straightforward but there are some things about the form you may be interested to know. Watch this video to learn more about the key information on Form W-2.
Do you know where to find answers to your payroll questions? Yes, I go to centralcasting.com when I have questions Yes, I go to myEP when I need payroll help Sometimes, depends on the question No, I’m not sure where to find payroll help ...
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However, these additional wages are not subject to Social Security, or Medicare (FICA), or Unemployment (FUTA) taxes if the payments of premiums are made to or on behalf of an employee - The bottom line is that in order for a shareholder to claim an ab...