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lisab1021
New Member

On my paystub I have deductions listed as: fica, ficm, fit, sit, tdi. what is the difference?

 
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2 Replies

On my paystub I have deductions listed as: fica, ficm, fit, sit, tdi. what is the difference?

They are all different taxes withheld.  Some are "income tax" withholding: FIT = Fed Income Tax, SIT = State Income Tax.  These items go on your income tax return as payments against your income tax liability

FICA would be Social Security and Medicare which are not deductions nor credits on your income tax return.

TDI probably is some sort of state-level disability insurance payment, e.g. worker's comp.  In California the State Disability Insurance (SDI) could be used as a Schedule A deduction.  Might be the same in your state.

Not sure about FICM.  Probably your employer has distinguished between Social Security, using FICA and Medicare using FICM.

You really should ask your employer's payroll department to be absolutely certain.

Tom Young

On my paystub I have deductions listed as: fica, ficm, fit, sit, tdi. what is the difference?

NO!  You can't enter your info from your paychecks or by using last year's W2 as a sample.  It won't work.  

You have to wait for your employer to send you the W2. It is the tax summary of your wages for the year. They have to send it to you by Feb 1. You can't use your last paystub because there might be differences in the taxable amounts sent to the IRS. And you don't know what amoutnts to put in which boxes.  There are several items that are deducted pre-tax that will affect your taxable gross income.  Usually your last paystub does NOT match your W2!  And you can't file until you get the actual W2.  

See this article….
https://ttlc.intuit.com/questions/1899643-can-i-file-my-tax-return-using-my-last-pay-stub
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