Mastering Payroll

April 19, 2023
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295.00

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Learn to do a payroll, starting at square one. Includes: who gets overtime pay and who does not . . . how to process a W-4 and complete the 941, 940, W-2 and W-3 . . . how and when to deposit withheld taxes using actual forms. Double-quiz in each section assures that you master it.

Course Content

Mastering Payroll Lesson 1 23 MIN

Who is an employee? How to classify—and pay—employees, independent contractors, leased employees, temporary help, agency referrals.

Mastering Payroll Lesson 2 37 min

Federal v. state laws. How to know if your employer or employees are covered by key federal laws. Minimum wage rules. The enterprise test.
Paying employees. Who is paid overtime; computations. Paying for nonproductive time (showering, changing, etc.). When you can dock employee pay.

Mastering Payroll Lesson 3 37 min

Required payroll data. Information, data and forms for each employee. How long to keep each kind of information.
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.

Mastering Payroll Lesson 4 48 min

Withholding and depositing taxes. How to withhold federal income tax and FICA. Depositing federal income tax withheld under the monthly, semiweekly and Wednesday-Friday rules. The “lookback period.” Form 941-X.

Mastering Payroll Lesson 5 22 min

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.

Mastering Payroll Lesson 6 20 min

When wages are taxable. When wages are earned v. when they are paid. Handling wages paid in January for December work.
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.

Mastering Payroll Lesson 7 20 min

Journal entries. How to record salary, deductions and employer/employee payroll expense, payment of taxes, premiums, pension contributions and more.

Mastering Payroll Final Exam

Course Content

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