Mastering Payroll

This class was created by Brainscape user Erinne M Perry. Visit their profile to learn more about the creator.

Decks in this class (10)

Section 1 - Employees vs. Nonemployees
To ensure students understand the different classifications of workers and which workers are subject to which taxes.
60  cards
Section 2 - Federal and State Wage Hour Law
To ensure students understand how employees should be treated when Federal and State wage-hour laws conflict.
0  cards
Section 3 - Paying Employees Under Federal Law
To ensure students understand how to pay employees correctly based on the Federal minimum and overtime rate laws.
0  cards
Section 4 - Employment Records and Payroll Recordkeeping
To ensure students understand how long employment and payroll documents should be retained based on laws.
0  cards
Section 5 - Employee Data: Form W4 and State withholding allowance certificates
To ensure students understand the purpose of the W-4 and how one's marital status and number of allowances claimed affects how much Federal / State Income tax is withheld.
0  cards
Section 6 - How employees withhold and deposit federal taxes
To ensure students understand how employers determine how much taxes should be withheld and when they must make deposits to agencies.
0  cards
Section 7 - Federal Employment Reporting Forms and Due Dates
To ensure students know which Federal Forms need to be filed, with which agency and the deadline by which returns must be submitted.
0  cards
Section 8 - When wages become taxable
To ensure students understand the concept of constructive receipt.
0  cards
Section 9 - Other Reporting Rules
To ensure students understand the other reporting requirements and returns employers subject to payroll must complete with the Federal and State.
0  cards
Section 10 - Payroll Journal Entries
To ensure students understand how to record the payroll distribution (employees pay and deductions) and payroll tax expense (employers portion of taxes; eg. matching FICA, FUTA, SUTA.
0  cards

More about
Mastering Payroll

  • Class purpose General learning

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