136 pages [55 self-teaching + 81 self-quizzes with detailed answers]
Section 1: Who is an employee? How to classify—and pay—employees, independent contractors, leased employees, temporary help, agency referrals.
Section 2: Federal v. state laws. How to know if your employer or employees are covered by key federal laws. Minimum wage rules. The enterprise test.
Section 3: Paying employees. Who is paid overtime; computations. Paying for nonproductive time (showering, changing, etc.). When you can dock employee pay.
Section 4: Required payroll data. Information, data and forms for each employee. How long to keep each kind of information.
Section 5: Form W-4 and state withholding forms. How it must be completed. When you must reject a W-4. Rules on withholding a flat dollar percentage or dollar amount of tax.
Section 6: Withholding and depositing taxes. How to withhold FICA and federal income tax. The monthly, semiweekly and Wednesday-Friday rules. The “lookback period.” Form 941-X.
Section 7: Filing federal reporting forms. Computing Federal Unemployment Tax (FUTA). Who must file a 940, W-2, W-3, 941 and Schedule B, and 945. Backup-tax rules.
Section 8: When wages are taxable. When wages are earned v. when they are paid. Handling wages paid in January for December work.
Section 9: Other federal and state requirements. Handling the 1099, 1099-MISC, 1099-DIV, 1099-INT, 1099-R, 1096. State unemployment insurance (SUI). Each state’s due dates for filing the state W-2 and distributing copies to employees.
Section 10: Journal entries. How to record salary, deductions and employer/employee payroll expense, payment of taxes, premiums, pension contributions and more.
Glossary of key terms.
Appendix of sample payroll forms with instructions: W-4, 940, 940-Sched. A, 941, 941-Sched. B, 941-X, 944, 945, 945-A, W-2, W-3, W-2c and W-3c, I-9, 1099-MISC, SS-8.
Publisher: AIPB
JEFF –
It might be beneficial if some examples of IRS letters regarding errors in quarterly filing of Form 941 were presented, and what caused the error, and how to correct the error. Sorry if this is in Payroll II.
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RENATTO –
Easy to follow and understand. Very helpful.
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CATHERINE –
Generally well presented. But there were a few typos that through me off: 1. Page 53 = says MUST Obtain as heading, but then it says “should” review for SS# card. 2. Page 66, Prob III, Q5: 3rd day on the job (as per p. 56). Why is answer days? 3. Page 96 typo. it should be Fri Sept 1, not 5
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ATHENA –
There is a lot of information in this course. I do feel that the chapter could have been put into a better order; at times you read about something the next chapter or chapter after taught on. Overall I think it was very nicely composed.
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MATT –
Good book. It was helpful
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SHERRY –
It was mainly good, I felt some of the questions were trick questions. However, the material was easy to follow, and I felt I truly understood each section. The quizzes helped verify that I did comprehend everything.
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ANN –
Fair
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DAMIEN –
Information clearly written and easy to understand.
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BRANDY –
This book has ALOT of information but it is very helpful to reference when doing payroll or thinking about doing payroll in the future.
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