Log in

View Full Version : Trying to breakdown "regular pay" for my tax guy



stevah
04-06-2016, 04:23 AM
The Employer's Payroll Total Report first line is REGULAR PAY.

When I take my Yearly Employee Wage Statement (or W-3) Total; add in half the federal FICA and Medicare; Plus the FUTA and SUTA, I still come short of the total at the top by .052%.
What am I missing? and how do I get the right number total for "employee wages costs"?

Paul Mayer
04-06-2016, 01:27 PM
It is not half as the employee share is the actual tax deducted and the employer share is the calculated result of the total wages subject to FICA and such and then the two results are added.

See this FAQ:

http://zpay.com/vbulletin/showthread.php?3198-Rounding-of-Employee-FICA-and-Medicare-is-Expected