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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I need to correct the total amount of taxable FUTA wages. I

Customer Question

I need to correct the total amount of taxable FUTA wages. I am not sure what to do
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: There is a difference between total wages by tracking type and actual taxes FUTA wages. I think I changed the taxability settings after the 1st of the year.
JA: Is there anything else the Accountant should be aware of?
Customer: No I am getting this error on my 940 form
Submitted: 8 months ago.
Category: Finance
Expert:  Mark Taylor replied 8 months ago.

Hi, my name is Mark. I will be happy to help you with your questions. How many employees do you have?

Customer: replied 8 months ago.
18 employees
Expert:  Mark Taylor replied 8 months ago.

Only the first $7,000 should be subject to FUTA.

Customer: replied 8 months ago.
no if you can provide how to correct my problem will be great
Expert:  Mark Taylor replied 8 months ago.

Are you using QuickBooks? What is the software doing?

Expert:  Mark Taylor replied 8 months ago.

What is the error in the calculation?

Customer: replied 8 months ago.
I am using quickbooks. When I run the 940 form. I am getting an error. It says quickbooks calculated and amount different than the form is showing under fringe benefits.
Expert:  Mark Taylor replied 8 months ago.

What fringe benefits are included?

Customer: replied 8 months ago.
Health Insurance and Aflac
Customer: replied 8 months ago.
I think I changed the health insurance to a fringe benefit after the 1st payroll of 2016
Expert:  Mark Taylor replied 8 months ago.

Are you using the desktop version?

Expert:  Mark Taylor replied 8 months ago.

I need to step away from my computer for a little bit. I am going to opt out and let someone else help. If you still need help when I return I would be happy to help you.

Expert:  Mark Taylor replied 8 months ago.

Do you still need help with this?