How to Fill out W2 Box 4
Box 4—Social security tax withheld. Show the total employee social security tax (not your share) withheld, including social security tax on tips. For 2014, the amount should not exceed $7,254 ($117,000 × 6.2%). Include only taxes withheld (or paid by you for the employee) for 2014 wages and tips. If you paid your employee's share, see Employee's social security and Medicare taxes (or
railroad retirement taxes, if applicable) paid by employer.
Source: 2014 IRS W2 Instructions
Box 4: Social Security tax withheld. Box 4 reports the total amount of Social Security taxes withheld from your paychecks. Normally, the Social Security tax2 is a flat tax rate of 6.2% on your wage income, up to a maximum wage base of $113,700 (for 2013). Wages above the Social Security wage base are not subject to the Social Security tax. Accordingly, the maximum figure shown in Box 4 should be $7049.40 ($113,700 maximum wage base times 6.2%).
Source: About.com
Box 4 = Box 1 * 6.2%
Box 6 = Box 1 * 1.45%
