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
KATHY –
This course was informative but it seemed to focus heavily on dates and timing. While all of this stuff is important, it is probably not something that should have to be memorized and tested on. It seems to me that in practice, you would have this information as a reference that you would refer back to as needed.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
RICHARD –
well organized , The IRS deposit area I think could be more clearer as to when taxes must be paid in . Rules are a problem for someone just getting to know the many rules.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
SUSAN –
Extremely difficult in that there are many due dates and other facts to memorize. May also have been more difficult for me because it is the only area in which I do not have previous work or educational experience.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal