How do I calculate the payroll taxes to deduct for my S-Corp filing? I am looking at forms W3 (from payroll company) and 940 (Fed Unemployment). Thank you.

[JKoor]

 Are they the sum of Social Sec Tax Withheld plus Medicare Tax Withheld plus State Income Tax (all as reported on the W3 from my payroll company) plus the Federal Unemployment tax from form 940?

[PatriciaV]

As the employer, you may deduct only the employer portion of Social Security and Medicare, plus Federal Unemployment. In most case, your portion is half the amounts reported in Boxes 4 and 6 of Form W-3.