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S Corp. 2 employees. Me & partner. What do I show for Payroll Deductions?
I have an accountant for monthly payroll. I write two payroll checks at $200 each. Accountant bases our income on $250 / month. He sends me 941 quarterly form and instructions what to pay each qtr. On 941, Line 2 Wages $1500. Line 3 Fed Inc Tax Withheld $185.22. Line 5a Column 2 SS tax withheld $186.00. Line 5c Medical withheld $43.50. He said that I should list wages as $6000 ($250 x 2 for 12 mos). What part of withheld amount (sent to govt) do I deduct?
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‎June 1, 2019
8:20 AM