Hitomi Sekine Local Government Reporting Section Division of Accounting and Reporting.

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Government Compensation in California (GCC) Program Hitomi Sekine Local Government Reporting Section Division of Accounting and Reporting

Transcript of Hitomi Sekine Local Government Reporting Section Division of Accounting and Reporting.

Government Compensation in California (GCC) Program

Hitomi SekineLocal Government Reporting Section

Division of Accounting and Reporting

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www.publicpay.ca.gov

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www.publicpay.ca.gov

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www.publicpay.ca.gov

1)Total Wages Box 5vs.

Gross Wages

2) New Developments

Today’s Topics

Box 5 on W-2:

Total wages subject to Medicare taxes

What is the basis for total wages?

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Details of a position

Add Taxable Employer Paid Benefits

Examples: Car allowance Meeting stipends Additional pay, including incentive, bonus,

retention, bilingual pay Achievement awards Nonqualified Deferred compensation

(Per IRC Section 409A)

Amount in Box 5 on W-2 Medicare Wages

Subtract applicable “Before Tax Deductions”:

Examples:

Medical reimbursement deduction

Dependent care reimbursement deduction

Amount in Box 5 on W-2 Medicare Wages

June 30th FY End Due Date - October 18th GCC (2012) FTR (FY 2012-13)

FTR Pilot ProgramNewer version of MS Access

Administrative Issues

GCC Contact Information

Hitomi Sekine, Manager: (916) 322-3881Matthew Harada, Analyst: (916) 324-5975

E-mail: [email protected]