AliciaP1
Expert Alumni

Business & farm

Yes, pre-tax deductions for the benefit of the employee are very commonly health insurance premiums or 401k elective deferrals to a qualified employer-sponsored plan. If you use your tax return to calculate and invest your 401k contribution at year-end, this doesn't apply.  So, the representative number on your W2 would be box 1.

 

The employment credits are the credits related to Covid employers can qualify for if they had any qualifying situations.  See Coronavirus Relief Center for more information about the credits.

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