Where do I find the payroll taxes and salaries/wages paid for employee? I have an LLC taxed as an S-corp, their W2 salaries and wages does not match my profit and loss.

I use Gusto for payroll. It shows $36,858 for wages on the employee W2. I use quickbooks for bookkeeping. Gusto withdrew $11,119 for payroll taxes and $28,845 for wages paid to employee. In turbotax I am trying to enter the compensation and benefits correctly but am unsure if my numbers are correct.

788

Expert Alumni

Apr 14, 2025 1:36:56 PM

The employee's W-2 shows the gross wages.

Gusto reports net wages after deduction of tax withheld and employee's SS and Medicare taxes.

Payroll taxes per Gusto include tax withheld and both employee's and employer's SS and Medicare taxes.

On your form 1120S for your S-Corp, you should report $36,858 as wages and $3,106 as Payroll taxes ($28,845 + $11,119 - $36,858).

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Where do I find the payroll taxes and salaries/wages paid for employee? I have an LLC taxed as an S-corp, their W2 salaries and wages does not match my profit and loss.