W-2 Calculator for 2011, 2012

The W-2 tax form is a wage and tax statement. This form is used to report wages paid to employees and the taxes that were withheld from their pay.

Federal programs are funded by these taxes. As you go along in life and pay your payroll taxes you are determining the amount of Social Security annuity payment you will receive as a retiree.

Who Completes the W-2 Tax Form?

Employers complete a W-2 tax form for each employee. Employers must give their employees their W-2 form on or before January 31^st of the calendar year. There are actually six copies of the W-2 form. Copy A, B, C, D, and 1 & 2. Each copy of the W-2 tax form has its own purpose.

Common Mistakes on W-2 Tax Form

1) Do not use a decimal point for dollar amount entries

2) Use only black ink and press hard enough to see through all copies

3) Use 12 point Courier font if possible

4) Add dollar signs to money amount boxes – not required on Copy A

5) Get first name, middle initial, and last name in correct boxes

W-2 Calculator Helps Prepare Tax Forms with Online Tax Software

A W-2 calculator will help employers compute the appropriate tax amounts for each employee. If you are new to calculating dollar amounts for the W-2 tax form, you may want to take a look at online tax preparation software. The most reputable tax services offer a W-2 calculator that acts like a wizard and asks a series of questions to populate the data entry boxes.

It’s so easy to make a mistake when filling out a W-2 tax form. I trust the tax software for business owners to help me get my W-2 forms completed correctly. I really don’t want to be hit with delays because I messed up my tax forms. Not only does it make life more complicated for me, but also for my employees and I certainly don’t want that.

If you would like information about the W-2 Calculator, you can click on the support tab of an online tax preparation company, such as, TurboTax Online to learn more about how to use the W-2 calculator.

You can also read about many of tax related articles from their award winning tax library. If you haven’t tried tax software yet, you really should give it a try. Go visit the web site today to discover all of the benefits waiting for you when you use the tax software.