Using the Wage Projector in Intuit Tax Advisor

The pre-strategy baseline (PSB) Wages screen has been enhanced to support entering a YTD paycheck for each W-2, and projecting the annual wages and taxes withheld. The Wage projector is initiated from the calculator icon in the Wages field.  

Annualized wages are calculated based on the YTD wages and the Pay per period wages multiplied by the number of remaining periods in the year based on the information entered in Pay Frequency, Pay Stub Date and Employment Period.

• The calculator supports annualizing Wages based on multiple pay period intervals, such as monthly, bi-weekly, etc. 
• Federal tax withheld is also annualized. 
• Social security wages and taxes are capped based on the annual wage limits.
• Additional deductions are annualized, but may not be limited based on annual limitations (yet).