TaxGuyBill
Level 15
08-12-2024
06:44 PM
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This is for his employees, not himself, right?
Only the employer portion of Social Security and Medicare tax are deducted separately (in addition to Federal and State Unemployment). The other "payroll taxes" are already part of wages (which is deducted as wages).
Is the 401k for himself? Or is it his paying an employer-portion of 401k for his employees?