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.
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