taxable Benefits-401k deduction

I need to include taxable benefits in the calculation for 401k deduction, is 
this not possible in Dynamics?

I don't think it is abnormal that 401k's are based on W-2 wages, (which 
include taxable benefits)




-- 
Doug
0
Doug4515 (774)
2/21/2006 6:55:26 PM
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It is not possible in GP. GP only uses Pay Codes as the basis for deductions. 
The main reason is many, if not most, taxable benefits do not involve cash 
but merely increase the tax amount. For example, stock options and moving 
expenses paid by the employer do not involve cash to the employee so there is 
nothing from which to deduct the 401k amount. 

What types of taxable benefits are you wanting to use? 
-- 
Charles Allen, MVP



"Doug" wrote:

> I need to include taxable benefits in the calculation for 401k deduction, is 
> this not possible in Dynamics?
> 
> I don't think it is abnormal that 401k's are based on W-2 wages, (which 
> include taxable benefits)
> 
> 
> 
> 
> -- 
> Doug
0
callen (2505)
2/22/2006 6:29:26 AM
Taxable benefits can also include Health Insurance for officers of S Corps.

Nursing Home and Life insurance benefits to employees paid from a cafeteria 
plan.

These benefits, also the moving expenses and possibly stock options are 
included as W-2 wages are they not?  Most 401k plans define compensation as 
Taxable wages so when an employee decides they want 5% of compensation to the 
401k,  we are always short...


-- 
Doug


"Charles Allen" wrote:

> It is not possible in GP. GP only uses Pay Codes as the basis for deductions. 
> The main reason is many, if not most, taxable benefits do not involve cash 
> but merely increase the tax amount. For example, stock options and moving 
> expenses paid by the employer do not involve cash to the employee so there is 
> nothing from which to deduct the 401k amount. 
> 
> What types of taxable benefits are you wanting to use? 
> -- 
> Charles Allen, MVP
> 
> 
> 
> "Doug" wrote:
> 
> > I need to include taxable benefits in the calculation for 401k deduction, is 
> > this not possible in Dynamics?
> > 
> > I don't think it is abnormal that 401k's are based on W-2 wages, (which 
> > include taxable benefits)
> > 
> > 
> > 
> > 
> > -- 
> > Doug
0
Doug4515 (774)
2/22/2006 3:11:31 PM
Reply:

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