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Buy now & saveIt's not any of the 401, 403... options that the existing QBO Payroll deduction/contribution options provide for. The Company Paid plan doesn't allow pre-tax for both the company contribution and the employee deduction. Prior QBO help suggested "faking" it in under a Health Plan since those can be set up as pre-tax, but the issue becomes a major EOY tax reporting problem. Thank you for your consideration of this issue.
I'll provide details that can help you in handling your pre-tax contributions and deductions accurately in QuickBooks Online (QBO) Payroll, Pfura.
QBO Payroll Core allows the setup of common pre-tax deductions and contributions, as long as the retirement plan is supported. Here are the following supported retirement plans in QuickBooks:
You can also refer to this article for more information: Determine which retirement plan to set up.
In your case, customizing a pre-tax pension plan that does not fit into these predefined categories can be challenging. When you're considering workarounds like choosing a different pre-tax payroll item and repurposing it to accomplish what you need, it should always be under the guidance of a tax professional to avoid complications and ensure your EOY tax reporting is accurate.
Meanwhile, I suggest sending feedback directly to our Product Developers team. This is essential because it highlights the specific need for customized pre-tax contribution and deduction options that aren't currently supported in QBO Payroll Core. Your feedback helps our developers understand real-world requirements and prioritize feature enhancements, ensuring compliance and accuracy in payroll processing.
Here's how you can submit a request:
You can check out our Customer Feedback page to track the status of your request.
I've also included these articles that will further guide you in setting and managing your deductions with QuickBooks:
Once you've completed your setup, it's always important to review and track your employees by generating payroll reports. It's essential for maintaining compliance and historical reference.
If you need further assistance with setting up your company contributions or have any concerns with handling payroll in QuickBooks, please respond below. Our Community team is here to help you every step of the way.
While I appreciate your reply, the information provided to, "help you in handling your pre-tax contributions and deductions accurately in QuickBooks Online (QBO) Payroll" is nowhere near a solution. I'm tired of reading responses to QBO issues that only feign solutions as they point to training videos and setup instructions already viewed and tried but don't provide direct content leading to a direct solution. federal law makes it abundantly clear that 457b retirement contributions have SS and Medicare paid on them for both Employer and Employee contributions/deductions. QB Payroll Desktop provided for this. I was told QBO Payroll could be set up for this. None of the options in QBO Payroll appear to provide for this. See the following QB Community discussion that identifies the same problem and succinctly addresses the fact QBO can't do what I need it to do: https://quickbooks.intuit.com/learn-support/en-us/employees-and-payroll/fica-and-medicare-withholdin...
I don't need any more "assistance" pointing me to help videos on the various QBO Payroll setup options when the product clearly can't perform what the Desktop Payroll version can. I need a refund of the QBO costs I've paid and to continue with the QB Desktop license for one more year while I figure out my path to another service/product that can do the job and not increase in cost fourfold over three years like Intuit has done.
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