Get 50% OFF QuickBooks for 3 months*

Buy now
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Priority73
Level 1

EMPLOYER CONTRIBUTIONS

I'm a small business S Corp (4 employees) and would like to contribute to one employees healthcare premiums, since I don't offer healthcare. I would like to contribute to another employees daycare costs for her children. 

In Quickbooks, I see an option for employer contributions and I set it up there, I believe and name what it's for, so that it would reflect on their paystub.

Also, when I file my business taxes, how do I include these contributions?

Thank you!

1 Comment 1
Rea_M
Moderator

EMPLOYER CONTRIBUTIONS

After setting up the employer contribution item, adding it to your employee's profile, and running payroll, QuickBooks will include them in your taxes, Priority73. I'll provide more details about this below.

 

Company contributions are usually exempt from taxes but are reported on some payroll tax forms. Based on your description, I can tell that you've set it up accordingly in your QuickBooks account.

 

Moreover, our payroll services don’t automatically report employer-sponsored health insurance on W-2s. Depending on your payroll service, you may need to contact our Payroll Care team to have it added or take extra steps when filing the form. To learn more about this, please see this article: Report employer health insurance on W-2s.

 

Also, I've included this article to help you prepare your tax forms in QBDT Payroll: Year-end checklist for QuickBooks Desktop Payroll.

 

If you have further concerns about managing employer contributions and payroll taxes, you can get back to this thread at any time. We in the Community are always ready to help you out.

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.

Need to get in touch?

Contact us