Breaking Down Your W-2: Expert Guide by SAI CPA Services 📊
Understanding your W-2 form is crucial for accurate tax filing. At SAI CPA Services , we're here to demystify each box and number on your W-2, ensuring you make the most of your tax return. Key Components to Focus On: Your W-2 starts with essential information like your Social Security Number , employer identification , and wage information . Box 1 shows your taxable wages , while Box 2 indicates federal income tax withheld. These are fundamental for calculating your tax liability or refund. Boxes 3-6 detail your Social Security and Medicare contributions . Understanding these helps verify proper withholdings. State tax information appears in Boxes 15-17, showing your state wages and withholdings. How SAI CPA Services Helps You: Detailed review of your W-2 for accuracy Identification of potential errors or discrepancies Maximizing deductions based on your specific situation Year-round tax planning strategies Expert gu...