The key information for preparing your federal tax return is in boxes 1, Box one reports your taxable wages, including salary and bonuses. Box two reports the federal income taxes withheld from your paychecks throughout the year. This is important because the amount of tax withhel...
Box 3 Social Security wages Taken 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 be...
The amount of employee wages subject to Medicare tax is the same as the wages subject to Social Security tax. The only difference is that there’s no wage base for this tax. So if your employee earned more than the Social Security wage base, Box 5 will show a higher amount than Box 3...
Only wages paid by Central Casting or EP will appear in your pay history. There are times when Central Casting casts a show, but the Background Actors are paid by another payroll company. You'll know you were paid by us when your production uses SmartVoucher or your paper voucher says ...
A W-2 form is a tax form used by employers to report an employee’s wages, withheld taxes, and other information to employees, the IRS, and the Social Security Administration each year. Employers must also provide copies of each worker’s W-2 form to the
Taxes work differently for Form 1099 vs. W-2 income. In particular, the employer withholds taxes for W-2 wages but not for 1099 workers. You’re typically an employee if any of these are true: Behavior:The company can control how, when, or where you work. ...
Filling out W-2 form best practices You must know how to fill out Form W-2 if you paid employees during the year. Streamline the process and ensure accuracy by following these best practices: Use online payroll togenerate Forms W-2
Cafe 125 should already be subtracted from the total amount of wages reported in box 1 on your W-2. Included plans Employers can choose to set up “cafeteria plans” under section 125 of the Internal Revenue Code for a variety of reasons. These cafeteria plans allow employees to set...