941

[MGC94]

wages for schedule C on line 26.

What is the other deduction and % for employer deductions for Medicare/ss 

What line on the 941 is that and what are the percentages?

Thank you! 

[dkh]

Employer can deduct the SS/Medicare match and federal and state unemployment taxes paid

I'm guessing you did not do the payroll for this taxpayer.  Instead of you adding 4 quarters of 941s to get your wage and taxes paid info, can they provide you with a payroll summary report that would show gross wages, withholdings, and employer taxes, 

[MGC94]

No I did not do it. All I have is the 941 for each quarter

[IRonMaN]

The 941 shows the combined amount for employer and employee Social Security and Medicare.  The employer's share is only half of that amount for each of the taxes.

[dd4vols]

in addition to @IRonMaN  information above, they most like likely would have state unemployment tax for each qtr, and federal unemployment tax (Form 940) for the year.

[IRonMaN]

But I think the flower already covered that 😉

[qbteachmt]

The problem you have is Mixed Perspective. The 941 is Payroll, not income tax reporting. For instance, tips paid to servers by customers in a retail establishment are not expense for the business, if they have a POS system that tracks appropriately. That's why taxable compensation on the 941 line 2 is not by definition the wage expense for the business owner. You won't look to line 3 at all; that's already part of gross wages.

If it is a small business without lots of provisions and there is no employee reaching the SS limit or the additional Medicare limit, no tips, FMLA, etc, then you can typically use the 941 lines 5a through d, but any line where you see .124, split it in half to get .062 (employer share only) and the .029 becomes .0145. Or, maybe not.

This is not something easily back-calculated from the 941. Whoever has provided the 941 should also have access to the reporting you need, and you should cross-reference it to the Income Statement, to confirm they didn't (for instance) dump Owner Draw into Compensation expense.