Agi adjusted gross income on w21/13/2024 There is a Social Security wage base each year and once you earn up to that amount, you no longer will have deductions for Social Security tax. This represents income subject to Social Security tax. This amount represents the total amount withheld from your paycheck for federal income taxes.īox 3: Social Security Wages. The “YTD Gross” is the sum of the Year to Date (YTD) amounts under Hours and Earnings.īox 2: Federal income tax withheld. The amount in Box 1 will generally be the “YTD Gross” under the Summary section of your final earnings statement, minus any pre-tax deductions such as health/dental/vision insurance, flexible spending accounts and retirement and tax deferred savings plans, etc. This figure includes your regular wages, bonuses, and any taxable fringe benefits (such as education benefits greater than $5,250), rewards and recognition, gifts, taxable moving expenses, as well as the taxable value of group-term life insurance in excess of $50,000 (see box 12, below). This is your total taxable wages for federal income tax purposes.
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