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Payroll Adjustments / W-2's
How do I make adjustments for employer paid health insurance premiums paid for 2% shareholders? On a future payroll, I need to increase the employees' YTD wages by an amount equal to the value of the premiums paid and deduct the applicable FICA and income taxes.
I see there is a payroll code for "Health Insurance Employer Paid 2% Shareholders" but I'm not sure how to set up the payroll item.
It's the same situation for reporting the value of personal use of a company owned auto. I need to add an amount to YTD wages and deduct applicable taxes before the end of the year.
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