Gain a better understanding of the ins and outs of payroll and avoid fines and penalties.
Paying employees is one of the most important parts of doing business. Employees work to be paid so making sure they are paid timely and correctly is crucial to your business. How do I calculate their pay? How do I know how much to withhold? How often do I pay? Which taxes do I withhold? Taxes are complex and making sure you are in compliance is very important. This is money that you are withholding from an employee's wages and there are serious consequences for not paying these taxes. Fines and penalties can be assessed for companies who fail to pay taxes properly to the extent that their business can be shut down. Laws constantly change and keeping up on payroll laws can be daunting. This topic will give you the basic knowledge of how and what items you need to pay your employees, how to calculate their pay, what taxes to withhold, how to pay in those taxes, and better knowledge of payroll in general to help keep you in compliance. Details of how to calculate taxes and what reports are required will be discussed along with how often they must be paid. If you are trying to understand more about what you are paying you will want to attend and get a better understanding of the ins and outs of payroll.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Items Needed to Process Payroll
- W-4s
- I-9s
- Pay Information
- Time Records for Hourly Employees
- Information for Other Pay
- Deduction Information
Payroll Calculations
- Calculating Hourly Pay
- Calculating Overtime
- Salary Payments
- Calculating Deductions Correctly
Withholdings
- What Federal Taxes Need to Be Withheld?
- What State Tax Withholding Is Required?
- FICA/Medicare Tax Withholding
- Is There Any Local Tax Withholding?
- What Employer Taxes Are Required?
Payroll Tax Calculations
- How to Calculate Federal Tax Withholding
- How to Calculate State Tax Withholding
- How to Calculate FICA/Medicare Tax Withholding
- How to Calculate Local Tax Withholding
- Employer Taxes
Reporting of Withholding Taxes
- What Forms to File
- How Often Do I Withhold and Pay
- Where/How Do I Make Payments?
- What Reports Must Be Filed?
Deadlines/Penalties
- Deadlines for Tax Payments
- Penalties for Late Payments
- Penalties for Late Filing
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 28, 2021.
Call 1-866-352-9540 for further credit information.
- ASAP PACE 0.1
- This course is pre-approved through the American Society of Administrative Professionals (ASAP) for 0.1 CEU(s) towards your PACE Recertification.
- IAAP 1.0
- All education that aligns with the CAP Body of Knowledge can be used toward recertification. Lorman Education Services believes this course does align and should be counted toward recertification. Please visit IAAP's certification webpage to review recertification details and requirements. https://www.iaap-hq.org/page/CAP_Recertification. Course Length: 1.0.
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Debbie Cash, CPP
G&A Partners
- Manager of TLM Implementation at G&A Partners
- Began working for the organization in 2006 as a Payroll Tax Specialist and Time and Attendance Specialist
- Promoted to Time/Labor Manager in 2021
- 30+ years of experience processing payroll and payroll taxes for various companies and professions
- Worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006
- Attended the International Tax Conference in Wisconsin and specialized in international tax for student visas
- Worked for Joplin R-8 School District processing payroll from 1990 to 1993
- Associate degree in accounting from MSSU in 1985 and a Bachelor’s Degree in General Business from MSSU in 2006
- Can be contacted at [email protected] or 417-782-3909, ext. 148
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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