Pacun Posted April 4, 2011 Report Posted April 4, 2011 If single owner of a C corporation, has a W-2 showing: Box 1 100,000 Box 2 (fed Withheld) 5000 Box 4 and 6 combined 7650 box 17 (State withheld) 2000 Imagine that this is the only info you have, based on this information, how much could the company deduct as "Compensation to Officers" on Form 1120? Quote
ILLMAS Posted April 4, 2011 Report Posted April 4, 2011 If single owner of a C corporation, has a W-2 showing: Box 1 100,000 Box 2 (fed Withheld) 5000 Box 4 and 6 combined 7650 box 17 (State withheld) 2000 Imagine that this is the only info you have, based on this information, how much could the company deduct as "Compensation to Officers" on Form 1120? Compensation to officer would be 100K line 12 Box 4&6 but only the portion matched by employer would be deducted On line 17 Marco Quote
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