BG5150 Posted April 11, 2012 Posted April 11, 2012 Does anyone have a quick "reference guide" as to how to derive gross comp from W2's? For example, for NJ W2's it is Box 16 (state wages) plus Box 12, code D (401(k)). Anyone have a shortcut for the other states? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
ETA Consulting LLC Posted April 11, 2012 Posted April 11, 2012 It may not be exact, but the "Medicare" wages should be very close. I would (at least) start there. Good Luck! CPC, QPA, QKA, TGPC, ERPA
MARYMM Posted April 11, 2012 Posted April 11, 2012 Does anyone have a quick "reference guide" as to how to derive gross comp from W2's?For example, for NJ W2's it is Box 16 (state wages) plus Box 12, code D (401(k)). Anyone have a shortcut for the other states? Add back to Box 1 earnings : 401(k) and/or 403(b) contributions from Box 12 (Codes D and E) Section 125 Contributions reported in Box 14 (if provided) Subtract GTL in Box 12 Code C
rcline46 Posted April 11, 2012 Posted April 11, 2012 Get the payroll register and take the biggest number. As for GTL - if using 'w-2' wages as definition, GTL is in, if using 3401(a) wages as definition, GTL is out. There ain't no such thing as easy for gross pay.
david rigby Posted April 11, 2012 Posted April 11, 2012 Before deriving "gross" pay, it's probably best to define it first. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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