Step 1 · Enter figures

1120-Sneak Preview

Each line can be included or excluded from the preview. Payroll tax is estimated at 7.5% of W-2 when W-2 is included.

Income

All income recognized for the year.

Deductions

Company-side 401(k) match or employer contribution to SEP/Solo 401(k).

Home office deduction.

Mileage or actual expenses.

Software, travel, meals, and everything else.

Salary · W-2 compensation

Reasonable compensation reported on W-2. Employee retirement and healthcare below are keyed off this W-2 block.

Amounts of W-2 salary: deferrals from payroll (elective deferrals, etc.).

Premiums and contributions of W-2 compensation, typically run through payroll.

Shown on the preview as 7.5% × W-2 salary when W-2 is included. Not editable here.

$0

Updates when W-2 amount or its include checkbox changes.

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