Costpoint Online Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
  • And:Returns all topics that contain all the words in the search criteria, in any combination. Insert a plus sign between all words in the search criteria.
    Ex.system + administration
  • Or:Returns all topics with any combination of words in the search criteria. This is the default.
    Ex.system administration
For more information:Searching Online Help

Federal Tab

Use this tab to designate various choices regarding how a deduction is treated for the federal level of tax reporting and withholding when payroll is computed. For example, a 401(k) deduction can be subtracted from wages before income tax is computed. Complete this data to ensure proper payroll tax calculations.

Income Tax

Choose one of the following options associated with the federal income tax computation for this deduction.

Field Description
Fully Taxable

Select this option to indicate that the deduction has no effect on calculation of income tax. An example of this is an employee advance.

Taxable, Not Subject to W/H 

Select this option to indicate that the deduction is taxable when added to gross pay, but withholding is not required. An example of this is Excess Life Insurance.

Federal Exempt 

Select this option to subtract the deduction from gross pay before computing taxes. An example of this is a 401(k) deduction.

FICA

Field Description
Social Security Exempt

Select this check box to subtract the deduction from gross pay before computing social security taxes. An example of this is a cafeteria plan deduction.

Medicare Exempt

Select this check box to subtract the deduction from gross pay before computing Medicare taxes. An example of this is a cafeteria plan deduction.

FUTA Exempt

Select this check box to subtract the deduction from pay before computing Federal unemployment taxes. An example of this is a cafeteria plan deduction.

W2 Box 14 Usage

Use this drop-down list during the creation of W-2s. Box 14 of the W-2 has three lines to list the applicable deduction amounts. Select the line number that you want to have this deduction assigned to when creating W-2s. If this deduction is not applicable for Box 14 usage, select Not Applicable. Your options are:

  • Line 1
  • Line 2
  • Line 3
  • Line 4
  • Line 5
  • Not Applicable

The default is Not Applicable.