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UnderstandingForm W-2Small Business Tips
Important Dates                     January                      31  Deadline for employers to deliver W-2s to employees
Important Dates                      February                        28 Deadline for employers to get W-2s to the Social S...
Important Dates                        March                        31 Deadline for employers to get W-2s to the Social Se...
Employee Info
Employee Info                 No commas in name. Robert Jones, Jr. would                  be rejected by the SSA         ...
Federal Wages & Taxes
Federal Wages & Taxes               Box 1 - Gross TAXABLE wages. This area does not                include pre-tax deferr...
State & Local
State & Local                 Box 16 - employee total taxable wages                 Box 17 - amount of state tax withhel...
For a detailed outline ofthe W-2 visit:blog.surepayroll.com/w2-boxes
Understanding The W-2 Form for Small Businesses
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Understanding The W-2 Form for Small Businesses

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W-2 forms are an important responsibility for Small Business Owners. SurePayroll has processed hundreds of thousands of Wage & Tax Statements over the years and makes W2 processing easy -- but if you don't have SurePayroll this quick slide share will shed some light on what goes in the boxes on a W-2 giving employers and employees some easy insight.

For more detail of the W-2 boxes visit: http://blog.surepayroll.com/w2-boxes

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Understanding The W-2 Form for Small Businesses

  1. 1. UnderstandingForm W-2Small Business Tips
  2. 2. Important Dates January 31 Deadline for employers to deliver W-2s to employees
  3. 3. Important Dates February 28 Deadline for employers to get W-2s to the Social Security Administration - if sending by mail
  4. 4. Important Dates March 31 Deadline for employers to get W-2s to the Social Security Administration - if sending electronically
  5. 5. Employee Info
  6. 6. Employee Info  No commas in name. Robert Jones, Jr. would be rejected by the SSA  Make sure the name and social security (SS) number matches exactly what is on the SS card  Zip code extensions are optional. (Enter all four numbers or nothing)  If your employee has moved recently, use the address on file with taxing agencies
  7. 7. Federal Wages & Taxes
  8. 8. Federal Wages & Taxes  Box 1 - Gross TAXABLE wages. This area does not include pre-tax deferrals (ie: 401k)  Box 3 - Gross wages excluding tips (tip income goes in box 7) – up to $110,100  Box 4 - SS tax - withheld at 4.2% in 2012  Box 5 - Gross wages, tips, commission, etc. subject to Medicare tax (boxes 3 & 5 may not match box 1)  Box 6 - Medicare tax withheld from pay - 1.45% of Box 5
  9. 9. State & Local
  10. 10. State & Local  Box 16 - employee total taxable wages  Box 17 - amount of state tax withheld from employee wages (Box 16)  Box 18 - total taxable income subject to city, county, school district or other  Box 19 - local tax withheld from pay (Box 18)
  11. 11. For a detailed outline ofthe W-2 visit:blog.surepayroll.com/w2-boxes

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