We have 2 company benefits that we give the employee the option to pay the taxes on, so if they ever need to use it, they won’t be taxed on it. The deduction is based on a formula, and doesn’t fit in to any of the preset options on the Deduction/Benefit set up (of being calculated as a flat amount, % of gross, % of net, % of custom, or amount by hour)
The formulas are ((employee hourly rate x 2080)/52) x .00289 for the 1st benefit
for the 2nd benefit ((employee hourly rate x 40 x 0.60)/10) x 0.052
Any suggestions on how to set this up?
Best answer by mikedavidson07View original