2022 Business Tax Returns

[marinel98]

Hi, 

I am filing my business taxes with TurboTax Business 2022, and just added all the deductions but my salaries and wages tab doesn't match the payroll w-2 I received from out 3rd party payroll service.  Please help!

[Anonymous_]

You need to provide more details. 

How did you enter the deductions and what, exactly, does not match?

[marinel98]

Okay, I entered in TurboTax the salaries and wages paid and also the shareholders wages in that option, but it doesn't match the W-2 we received from ADP of how much in wages and taxes we paid.

[marinel98]

Also, I have QuickBooks and I do my bookkeeping there, so I used the amounts from QuickBooks because it is directly connected to my bank, and it's reconciled and to me was completely accurate.

[Anonymous_]

This is indeed confusing because you appear to be saying that what you have entered does not match what you entered directly from the W-2 you received from your payroll service (which does not make sense).

[marinel98]

I have an S-Corp and am filing the 1120S. I use ADP a 3rd party payroll service. I also use QuickBooks for my recordkeeping and so I started filling out my deductions based on my profit and loss from QuickBooks. On the section of compensation and benefits on the tax return I am preparing I entered the salaries/wages and the payroll taxes, but TurboTax gave me a notice that the total payroll reported has to match the total payroll reported on my payroll tax returns. I would like to know is this referring to the w-2 I received from ADP for the business because if so, the amounts are different. I just don't know which number to compare the one I received to.

[Anonymous_]

So, the amounts from your records and ADP do not match? 

[S-CorpAZ]

Are you putting in wages for all employees?  If so, I would look at the w-3 because it has the totals for all employees in each box.  Also, make sure you are not mixing up box1 and box 3.  Box 1 is taxable wages (gross wages minus deductions like health insurance premiums, etc...)  Box 3 is Social Security Wages...the govt adds back any of those deductions, and uses that number as gross wages to determine SSI witholding.

ADP should be willing to give you reports that will help with this.  You can ask for you 940 which shows year end totals.  We use Gusto payroll, and they are waaaaaay cheaper than ADP and their software is much more user friendly.  They offer all kinds of reports for owners at year end.

Good luck!