W-2 Employee Quick Reference Sheet & FAQs

About Your W-2

Your employer partners with CoAdvantage to process payroll, benefits, and taxes. This means all paychecks, including bonuses and commissions, are issued by CoAdvantage Resources. CoAdvantage is listed as the employer of record for payroll tax purposes. 

Because of this relationship, CoAdvantage's name will appear on your Form W-2 even though you worked day-to-day for a different company. 

The FAQs below address the most common questions employees have when reviewing their W-2. In many cases, differences are expected and do not indicate an error.

Frequently Asked Questions

I never worked for CoAdvantage. Why is CoAdvantage listed on my W-2?

CoAdvantage partners with your employer to process payroll, benefits, and taxes. Your actual, on-site employer's name appears under CoAdvantage's name in Box C of your W-2.

You may have worked for the company in a short period of time or may not have realized that payroll was processed through CoAdvantage.

My W-2 does not match my last paycheck of the year. Is that a problem?

Not necessarily. Your W-2 reports taxable wages, not gross wages. 

If you had pre-tax deductions (such as health insurance, flexible spending accounts, or retirement contributions), your W-2 wages will be lower than your gross pay.

To compare: 

1. Start with your gross wages.
2. Subtract any pre-tax deductions.
3. The results should closely match your taxable wages reported on your W-2.

Why are the amounts in Box 1, Box 3, and Box 5 different?

These boxes represent wages subject to different types of taxes, so it is common for them to differ. 

• Box 1 (Federal taxable wages): Reduced by pre-tax deductions such as 401(k) or other deferred compensation.
• Box 3 (Social Security wages): Includes most wages subject to Social Security tax and may be higher than Box 1.
• Box 5 (Medicare wages): Often the highest amount, as fewer deductions reduce Medicare wages.

I contributed to a 401(k) or other deferred compensation plan. How does that affect my W-2?

If you made contributions to a 401(k) or other deferred compensation plan:

• Those contributions reduce Box 1 (Federal taxable wages).
• They do not reduce Social Security or Medicare wages (Boxes 3 and 5).

You can find your total deferred compensation amount in Box 12 of your W-2 (with the applicable code). 

To reconcile Box 1, subtract deferred compensation and any other pre-tax deductions from your gross wages.

I worked for more than one company. Why did I receive one W-2 or multiple W-2s?

• If you worked for more than one CoAdvantage client within the same legal entity, you will receive one W-2 showing total wages.
• If you worked for employers in different legal entities, you will receive separate W-2 forms for each employer.

It looks like too much Social Security tax was withheld. Am I due a refund?

First, confirm whether you are a tipped employee. 

• Tips are reported separately in Box 7.
• Social Security wages for tipped employees are calculated as: 
  Box 3 (Social Security wages) + Box 7 (Tips) = Total Social Security wages

These amounts must be included when filing your tax return. In many cases, the withholding is correct once tips are properly considered. 

If you still believe there may be an error after reviewing this information, contact your employer for assistance.

Who should I contact if I believe my W-2 is incorrect?

If you believe there is an error on your W-2: 

• Contact your employer first.
• They can review your information and work with CoAdvantage if a correction is needed.

Contact CoAdvantage Resources If: 

• You have not received your W-2 by the required distribution date. 
• You need a reissued or replacement copy of your W-2