Social Security & Medicare
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- Posts: 40
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Social Security & Medicare
I processed my W-2's today through a service "efilemyforms". I received an error warning stating that the deduction for social security and medicare did not equal 6.2% and 1.45%. I'm off 11 cents total for 5 employees. Should I be manually adjusting/calculating SS & Medicare to make sure it is accurate?
Re: Social Security & Medicare
If you have the SS and Medicare taxes setup as described in the PCPlus manual, you should not have to do any sort of 'adjustment'. The quarterly 941 form also properly calculates the amounts so you should have had a notice of something being wrong way before posting the W-2.Buffalofoodshelf1 wrote:I processed my W-2's today through a service "efilemyforms". I received an error warning stating that the deduction for social security and medicare did not equal 6.2% and 1.45%. I'm off 11 cents total for 5 employees. Should I be manually adjusting/calculating SS & Medicare to make sure it is accurate?
Not sure how that service you use interfaces with Powerchurch, but there could have been a data entry issue also.
For a refresher on setting up the Federal tax tables, see this Knowledgebase article:
https://www.powerchurch.com/support/140 ... tax-tables
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
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- Posts: 40
- Joined: Fri Feb 20, 2015 11:18 pm
Re: Social Security & Medicare
Total salary - $33,528 X 6.2% = $2,078.74
PC Plus calculated $2,078.88
Total salary - $33,528 X 1.45% = $486.16
PC Plus calculated $486.12
So you are saying that I don't need to worry about the difference?
PC Plus calculated $2,078.88
Total salary - $33,528 X 1.45% = $486.16
PC Plus calculated $486.12
So you are saying that I don't need to worry about the difference?
Re: Social Security & Medicare
Yes ... don't worry. The system is used by thousand of churches, and these calculations have not changed in years other than the percentages. You are fine, and the third party you used is wrong. The numbers from Powerchurch are what you've been using on your quarterly 941s.Buffalofoodshelf1 wrote:Total salary - $33,528 X 6.2% = $2,078.74
PC Plus calculated $2,078.88
Total salary - $33,528 X 1.45% = $486.16
PC Plus calculated $486.12
So you are saying that I don't need to worry about the difference?
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
-
- Posts: 40
- Joined: Fri Feb 20, 2015 11:18 pm
Re: Social Security & Medicare
Thank you! I appreciate it!