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December 28, 2021
Question

Is it okay to skip payroll if the deductions are more than actual salary?

  • December 28, 2021
  • 1 reply
  • 0 views
My S corp Owners Health Insurance is higher than the salary because I have to pay for the whole year so QB says either I increase pay or lessen the deduction or skip payroll?

1 reply

December 28, 2021

Hello there, @deanna@healthsum.

 

Yes, it's okay to skip payroll since the deductions are higher than the actual salary. When setting up a deduction, it requires to be smaller than our actual salary. Or else, our salary is higher than the amount of the deduction. 

 

If you consider skipping payroll, I'd still recommend consulting your accountant for further assistance. They can guide you and share other ways on how to handle them. You'll want to open our ProAdvisor Page to find one. Then, follow the steps below.

 

  1. Pick an option of what expertise you need to find.
  2. Enter your city or zip code, then hit Search.

 

If you want to review your employee's detail and your business's finances, you can run some payroll reports depending on the information you need. You can use this reference: List of payroll reports.

 

Stay in touch if you have other concerns. I'm always here whenever you need help, deanna@healthsum. Stay safe and be well.