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
LORI –
Great refresher to get back to the basics for someone, who after years of processing payrolls using a software program to calculate the net pay and generate reports.
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BEATA –
Great course
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Anonymous –
Very informative
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KAREN –
Excellent used as self study refresher course did not test
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LUISA –
Excellent course
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CONNIE –
Great review especially for those tricky fringe benefits
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TAMMY –
I thought the course was in depth and covered what a person needs to know and learn about handling payroll
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MELISSA –
Excellent information. I’d like a Payroll III.
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BARBARA –
The course was very informative and I use my book as a reference material.
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SOLOMON –
It is very fantastic approach to have the basic idea inorder to do the real Accounting job.
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LINA –
Very helpful
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CAROL –
This was a good course, took my knowledge to another level
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W –
Same as 1
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PAMELA –
Just when you think you know all there is about payroll, comes a higher level. Any one that prepares payroll should study both workbooks.
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JOY –
It was very helpful as a resource
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