G overnment c ompensation in c alifornia gcc program
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G overnment C ompensation in C alifornia (GCC) Program PowerPoint PPT Presentation


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G overnment C ompensation in C alifornia (GCC) Program. Hitomi Sekine Local Government Reporting Section Division of Accounting and Reporting. www.publicpay.ca.gov. www.publicpay.ca.gov. www.publicpay.ca.gov. Today’s Topics. 1)Total Wages Box 5 vs. Gross Wages 2 ) New Developments.

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G overnment C ompensation in C alifornia (GCC) Program

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G overnment c ompensation in c alifornia gcc program

Government Compensation in California (GCC) Program

HitomiSekine

Local Government Reporting Section

Division of Accounting and Reporting


Www publicpay ca gov

www.publicpay.ca.gov


Www publicpay ca gov1

www.publicpay.ca.gov


Www publicpay ca gov2

www.publicpay.ca.gov


Today s topics

Today’s Topics

1)Total Wages Box 5

vs.

Gross Wages

2) New Developments


What is the basis for total wages

What is the basis for total wages?

Box 5 on W-2:

Total wages subject to Medicare taxes


Details of a position

Details of a position


Amount in box 5 on w 2 medicare wages

Amount in Box 5 on W-2 Medicare Wages

Add Taxable Employer Paid Benefits

Examples:

  • Car allowance

  • Meeting stipends

  • Additional pay, including incentive, bonus, retention, bilingual pay

  • Achievement awards

  • Nonqualified Deferred compensation (Per IRC Section 409A)


Amount in box 5 on w 2 medicare wages1

Amount in Box 5 on W-2 Medicare Wages

Subtract applicable “Before Tax Deductions”:

Examples:

  • Medical reimbursement deduction

  • Dependent care reimbursement deduction


Administrative issues

Administrative Issues

June 30th FY End

Due Date - October 18th

  • GCC (2012)

  • FTR (FY 2012-13)

  • FTR Pilot ProgramNewer version of MS Access


Gcc contact information

GCC Contact Information

HitomiSekine, Manager: (916) 322-3881

Matthew Harada, Analyst: (916) 324-5975

E-mail: [email protected]


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