4.55/5 stars (208 customer reviews)

Learn how to handle: ✓ taxable v. nontaxable fringe benefits ✓ expense reimbursements, advances and allowances ✓ personal use of company vehicles ✓ deferred compensation ✓ cafeteria plans ✓ third-party sick pay ✓ voluntary v. involuntary deductions ✓ child support orders and tax levies. Double-quiz in each section assures that you master it.

ISBN:978-1-938741-25-8
List Price: $59.00
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302 pages [194 self-teaching + 108 self-quizzes with detailed answers]

Section 1: FIT withholding: The wage bracket and percentage methods. How to use IRS tables and special withholding rates.

Section 2: Fringe benefits. How to tax working condition fringe benefits . . . health insurance . . . qualified employee discounts . . . transit passes and parking . . . gift certificates, and more.

Section 3: Fringe benefits. How to tax—or not tax—various fringe benefits and report each one on the W-2, 941 and 940.

Section 4: Expense reimbursements, advances and allowances. What’s taxable v. nontaxable. Required substantiation. The cents-per-mile, standard mileage and federal per diem reimbursement methods. W-2 reporting.

Section 5: Personal use of company cars. 3 safe-harbor methods for valuing personal use and 4 requirements for using them. Reporting the value on the employee’s W-2.

Section 6: Deferred compensation and “cafeteria” plans. How to withhold pretax and report contributions to 401(k) plans and SEPs on the 941 and W-2. Contribution limits.

Section 7: Disability v. third-party sick pay. Handling sick pay from the employer v. self-insured plan v. insurer. FUTA and FIT taxability. Reporting sick payments on the W-2, 941 and 940.

Section 8: Taxing and reporting life insurance benefits. Reporting group-term life on the 940, 941 and W-2.

Section 9: Imputed income and gross-up for cash payments. How to compute a bonus that includes the employee’s share of taxes or withhold taxes after a cash bonus has been given.

Section 10: Imputed income and gross-up for fringe benefits. How to compute the employee’s share of taxes on noncash fringe benefits.

Section 11: Voluntary v. involuntary deductions. Child support orders, federal/state levies, other notices. Deductions permitted from employee pay before levy. Limits on the levy.

Section 12: Basics of workers’ comp insurance. Variations by state. Classification codes, computing premiums, taxation of workers’ comp benefits.

Glossary of key terms.

Appendix of sample payroll forms with instructions: W-4, 940, 940-Sched. A, 941, 941-Sched. B, 944, 945, 945-A, W-2, W-3, W-2c, W-3c, 941-X, I-9, 1099-MISC.

Publisher: AIPB

Additional information

Book Type

Softcover Book, Online eBook

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4.55 out of 5 stars

208 reviews

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What others are saying

  1. Ragin

    Easy to follow and understand. I appreciate having the double quizzes at the end of each chapter to test and help solidify the skills.

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  2. Evelyn Baldo

    Confusing but interesting and informative

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  3. CHRISTINA

    Great book

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  4. ACELA

    Well detailed and explanatory book!!

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  5. BADEWA

    It is wonderful and revealing.

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  6. THOMAS

    Easier than Payroll I

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  7. KRISTINA

    Very easy to understand.

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  8. BEVERLY

    Very help appreciate it

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  9. MARGARET

    Lots of good & much needed information. Has me re-evaluating some in-house processes to be sure we are IRS compliant.

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  10. RAMIE

    Great course content.

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  11. SUZANNE

    I used this as a refresher. It fulfilled my needs.

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  12. TIMOTHY

    Great

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  13. TAMMY

    Very in dep, up to date.

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  14. MICHELLE

    I felt that the course was a good next step for payroll basics. The subjects were covered in a concise, but in dep, review. The IRS forms instructions were a nice bonus.

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  15. VALERIE

    Great follow up to Payroll I!

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  16. BEATRIZ

    helpful

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  17. ANGEL

    Excellent

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  18. JOSE

    Comprehensive Guide

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  19. JANET

    I found most of the book to be quite helpful but often the material itself to be overwhelming due to the nature of tax laws and how intricate they can become and often they change as do the various limits and thresholds year-to-year. The only thing I found truly lacking was it would have been tremendously helpful to 1) distribute the appendix of payroll forms at the end of the book (its a very good resource) as a separately bound book as it lends tremendously to the weight of the book. This only matters if you travel around as a freelance bookkeeper and/or have to travel alot due to family urgencies (and airport time can become valuable study time). 2) It would have been very, very, very helpful in each chapter discussion that referred to W-2 forms and how to complete them for various situations, to have illustrated their completion by having actually put in a W-2 form and shown how the fields should be populated per that example. However, the book is a tremendously valuable resource. I thank you for your time and consideration on this review.

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  20. CECELIA

    This was a very thorough course.

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  21. TINA

    Textbook was very helpful. Information was brief and to the point which I like and not too wordy. I would have like to have seen some more detail and information regarding FMLA, as far as how long the coverage period is, which states have paid leave etc..

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  22. KELLY

    Book covers the topic well

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  23. VICKI

    The course provided knowledge and insight on how certain benefits affect payroll income and taxes.

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  24. YING

    too many manual calculations

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  25. SUSAN

    Great!

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  26. CAMERON

    Great to refresh and take a closer look at the fine details of Payroll.

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  27. DIANA

    Very informative!

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  28. CHAINE

    It’s a good course. Very clear and guide you step by step.

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  29. MAUREEN

    Enhanced my payroll knowledge.

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  30. RODNEY

    This was the continuing class to Payroll I. Both of these classes are a great introduction to learning the basics of the payroll process.

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