Hello All, Does any one know the difference between medicare wages and Social security wages vs total wages? ( on w-2 form)
![]() |
Hello All, Does any one know the difference between medicare wages and Social security wages vs total wages? ( on w-2 form)
On most W-2s, they are the same amount.
However, employee contributions to either a Flexible Spending Account or to a 401K/403B pension plan may reduce the wage figure in Block #1.
These contributions have NO EFFECT on the Block #3 (social security wages) or Block #5 (medicare wages) figure.
There CAN BE other factors, but the case noted above is the most common reason why Block #1 differs from Blocks #3/5.
If the total wages exceed $97,500 (for 2007), then there will be difference in #3 and #5.
Agreed!
Medicare wages are the gross wages less the health and dental deductions. Taxable wages are gross wages less health dental 401/457 PERS and other retirement deductions. Not sure what social security wages are... social security wages are not always the same as medicare.
All times are GMT -7. The time now is 06:51 AM. |