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.

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SKU: 978-1-938741-25-8-1 Categories: ,

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 WorkBook, Online e-WorkBook

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  1. 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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  2. JOY –

    It was very helpful as a resource

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  3. CLAIRE –

    Helpful

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  4. CLAIRE –

    Helpful

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  5. LESLIE –

    Great information to enhance payroll knowledge.

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  6. LINDA –

    Excellent

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  7. DONNA –

    Every payroll preparer should take both the Payroll I and Payroll II courses.

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  8. DIANE –

    Easy to understand and follow. Explained each concept in detail.

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  9. SANTIAGO –

    Very Good

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  10. LINDA –

    Teaches about other things that deal with payroll

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  11. KENNETH –

    I thought each of the courses was right on target. They were a very good source for review for me.

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  12. BECKY –

    I felt it was a great book. I already knew most of the information, but that was due to experience.

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  13. DARRYL –

    EXCELLANT!!

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  14. BARBARA –

    Thank you.

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  15. DEBBIE –

    Very informative. Have not completed the book.

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  16. KELLY –

    Very informative and easy to follow. The question and answer section are a great help to make sure you are understanding everything. Highly recommended.

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  17. GENE –

    helpful and informative

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  18. RONALD –

    Great follow up to the basic course. Great understanding after completion.

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  19. TIMOTHY –

    Excellent presentation and examples in explaining the payroll process.

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  20. KARA –

    Excellent course, very helpful.

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  21. RAJPATTY –

    Very educational, current and precise, payroll knowledge.

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  22. VICTORIA –

    Good Detail, easy to follow.

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  23. HONEY –

    Excellent

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  24. JOSE –

    EXCELENT

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  25. JEMIL –

    Above expectation

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  26. REGINA –

    The study book contained valuable payroll information. I keep it on my desk and a handy tool for work.

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  27. JOSE –

    It provides everything you need to know about federal rules in order to apply it and according to the company needs.

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  28. NANCY –

    This course was very helpful regarding often mis-used fringe benefit deductions, vehicle use, disability, life insurance and other taxable and non taxable benefits. It went way beyond the basic payroll functions. A very helpful course and a book I refer to often during the month at work

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  29. CHERYL –

    This course contained a lot of detailed information. It was presented in a format that made it easy for me to learn it. I learned a lot of new information, and keep the book handy for reference.

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  30. CAROLYN –

    The material was very helpful in improving my bookkeeping skills by helping me develope a better understanding of the payroll process.

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