Getting payroll to handle Roth 401k and Scorp sharholder HSA correctly

JoePS

Has anyone been able to have payroll handle Roth 401k deductions, as well as Scorp shareholder HSA contributions? It doesn't seem to work properly and support won't get back to me.

Barsin

Hey there @JoePS

First off let me apologize for the delay in our response as we are currently dealing with a major backlog in our support requests.

I can see that one of our payroll tax specialists reached out to you!

To confirm, Wave does support employee HSA contributions! Amounts added as an HSA contribution will be deducted from an employee's gross wages (pre-tax).

While the modification is designed for employee contributions only, our team recognizes that the combined employee and employer contribution is to be reported at year end on an employee's Form W-2. Our team can help update your Tax Forms accordingly if this applies to your business!

For your interest, the HSA Contribution deduction feature is explained in further detail here: US Payroll Benefits and Deductions

Thanks for your attention to this for your business and for your continued patience, please let me know if you had any further questions for our team!

Hope this helps but reach out if you have any other questions.