Problems with Form 941


M

Mike Webb

Using QB pro 2003 for NPO's.
==============================
When we have QB compute the 941 for this quarter (1 July - 30 September), it
says line 2 should be $66,614.69. When we do it by hand from the Payroll
Detail reports, we get $84,931.19. Any ideas on why QB would compute a
different number?

TIA,
 
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T

Tom Healy

<< When we have QB compute the 941 for this quarter (1 July - 30 September), it
says line 2 should be $66,614.69. When we do it by hand from the Payroll
Detail reports, we get $84,931.19. Any ideas on why QB would compute a
different number? >><BR><BR>

Go to Payroll Items-Federal Withholding. Click "Next" twice to get to "Taxable
compensation." Make sure that all types of compensation subject to withholding
are check-marked. I'm going to guess that at least one item that should be
checked isn't. If so, somebody didn't have enough income tax withheld (and
might be unhappy next winter as a result).

While you are about it, do the same procedure for all the other tax items to be
sure they are being properly calculated.


--
Thomas E Healy, CPA, PC
1650 38th St., Ste 202W
Boulder, CO 80301
Please send email to: (e-mail address removed), since I block all email at my
newsgroup address.
phone (303) 443-1804
fax (720) 489-3772
 
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M

Mike Block - QuickBooks Tax Cut C.P.A.

Using QB pro 2003 for NPO's.
==============================
When we have QB compute the 941 for this quarter (1 July - 30
September), it
says line 2 should be $66,614.69. When we do it by hand from the
Payroll
Detail reports, we get $84,931.19. Any ideas on why QB would compute
a
different number?

TIA,

Line 2 of Form 941 will always include Total wages and tips plus other
compensation. All other Company Contributions like Social Security,
Medicare will be not included in Line 2. You may have manually added
up the Company Contributed Taxes while figuring amount for Line 2,
Form 941.



Mike Block, QuickBooks Tax Cut CPA
#1 QuickBooks Top Tester
Lowest QB Price, Free 462p QB book,
error codes, shortcuts, 120 Add-ons
http://blocktax.com/ 954-566-7540
 

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