Salaries and Wages Paid/ Payroll Taxes

[hythemr]

I own an S corp.  I'm looking where on the W2s & W3 I would get the accurate numbers for Salaries and Wages Paid.  Also officer compensation needs to be put in.   I know this needs to match what the payroll sends over.   Should this be box 1 or 3 on the W2/3 or am I adding to it?   As well as what numbers to add to get the total payroll taxes paid.
Here's what I see on my officer W2:
Gross Pay 75,000.12 
Less 401(k) (D-Box 12) 19,000.00
Less Cafe125 HSA (W-Box 12) 4,250.00
Plus S-Corp 2% Medical Premium 9,120.00 
Reported W-2 Wages 60,870.12

[KarenM90]

Yes, you are adding to it.

The amount you can deduct is Gross Wages Paid, in your example, the $75,000.12 would be the deductible amount for the S Corporation.  

The amounts deducted from that are part of the employee's compensation package, and therefore, part of what the S Corporation paid.  (ie - In order for them to contribute $19,000 to their pre-tax 401K, that had to be part of the compensation package.)

You would also deduct employer portion of taxes paid, but not the employee portion.

[QuestionBox]

I understand the answer is to report the gross amount paid for Wages but only the employer amount paid for taxes. My payroll service does not show an employer only paid portion on the W24 for the end of 2019. It shows Federal Income tax withheld, SS withheld and Medicare tax withheld and State income tax. How does one determine the employer paid tax amount for reporting on the Business tax return (1120)S?

[ouk]

i m looking for an answer to the same question

[MaryK4]

If the payroll only shows the amount WITHHELD from the employee, this is the amount that is the employee's half- your (employer) amount is the same.  It should be 6.2 percent for Social Security tax; 1.45 percent for Medicare tax 

@ouk

@QuestionBox

[JTSAUR]

Do I include social security and medicare in payroll taxes, which contains umemployment taxes, as part of compensation and benefits for an employee?

[JulieS]

Your payroll tax expense entry should include the employer half of social security and Medicare tax as well as federal and state unemployment tax. 

Employee compensation is gross wages plus any tax deferred benefits, like 401(K) and health insurance. If you get the gross wage amount from the W-2 forms, it already includes the employee half of social security and Medicare tax as well as federal and state taxes withheld. 

[JTSAUR]

Hi Julie,
Now I see.
The Learn More can be more helpful if it includes your answer. Currently it simply says the following without explicitly mentioning social security and medicare.

Examples include:
-State unemployment insurance
-Federal unemployment insurance
-Other state payroll taxes not withheld from employee