What on Your W 2? Wages & benefits Video

let's decode your W-2 in 60 seconds. Boxes a-f: verify your name, SSN, and employer info match your records. Boxes 1-6: Box 1 is federal taxable wages; Box 2 is federal tax withheld. Boxes 3/5 show Social Security/Medicare wages; 4/6 show those withholdings. Note: Box 1 is often lower due to pre-tax deductions like 401(k) or health premiums. Box 12 uses IRS codes for retirement, HSA, or benefits—these impact your tax strategy. Boxes 15-20 handle state/local taxes; critical if you worked remotely or across states. Before filing: 1) Verify personal details, 2) Compare Box 1 to your December pay stub, 3) Save copies for 3+ years. Questions? Book a 15-min review with CPS Accounting & Tax. We're here to help. [Disclaimer: Educational only. Not tax advice.]

Видео What on Your W 2? Wages & benefits Video канала Mohammed Filali MBA