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W
whittam
February 26, 2024
Question

How do I correctly enter Officer compensation and payroll tax? I use Intuit Payroll.

  • February 26, 2024
  • 1 reply
  • 0 views
For example I pay a salary of $6000, however in reality the company pays $5541 in salary and pays $918 in tax (half from the employee and half the company. So is the officer compensation $6000 or $5541?

1 reply

M
MinhT1
February 26, 2024

You should report gross wages of $6,000 as Officer Compensation.

 

Payroll taxes are only the employer's portion of FICA and unemployment taxes.

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