2021 PR101-201 Brochure - 3

Payroll 101: Foundations of Payroll
COURSE OUTLINE
What Does the Payroll Department
Do? (1.5 Hours)
*	 Pay employees
*	 Deduct, withhold, and
	 deposit taxes
*	 Report to federal, state, and 		
	 local tax authorities
*	 Pay federal and state 			
	 unemployment taxes
*	 Deduct, withhold, and pay
	 child support and garnishments
*	 Deduct and withhold employees' 	
	 benefit contributions
*	 Make and keep payroll records
*	 Provide support to auditors
*	 Explain impact of payroll issues 	
	 on employees' pay
Who Is an Employee? (1.0 Hour)
*	 Independent contractors vs. 		
	employees
*	 Common law test
*	 Misclassification problems
*	 Employee's Form I-9
	 - New hire reporting
How Are Employees Paid (FLSA)?
(5.5 Hours)
* 	 What is the significance of 		
	 exempt and nonexempt 		
	employees
*	 Calculating pay
*	 Minimum wage
*	 Tips and tip credit
*	 Shift differentials
*	 Special payment issues
*	 Calculating overtime
	 -	 What are hours worked
	 -	 Workweek definition
	 -	 What is included in the 		
		 regular rate of pay
*	 Hospital/nursing home exception
*	 Overtime for public sector 		
	employees
What Withholding Is Required?
(6.5 Hours)
*	 What wages are subject to 		
	withholding
*	 Factors affecting withholding
*	 Form W-4

*	 Federal income tax
	 withholding methods
	 -	 Regular wages
	 -	 Supplemental wages
*	 Social security/Medicare tax 		
	withholding
	 -	 Tax rates
	 -	 Employer portion
	 -	 Additional Medicare tax for
		 high earners
*	 Withholding issues
	 -	 Constructive payment
	 -	 Deceased employees
	 -	Grossing-up
An Introduction to Deferred
Compensation Arrangements
(1.0 Hour)
*	 Qualified plans
	 -	 401(k) plans
*	 Nonqualified plans
	 -	 457(b) plans
An Introduction to Cafeteria Plans
(1.0 Hour)
*	 Requirements and options
*	 Tax implications
*	 Flexible spending arrangements
* 	 Affordable Care Act's impact 		
	 on cafeteria plans
What Benefits Are Taxable?
(3.0 Hours)
*	 Nontaxable benefits
*	 Imputing income
*	 Defining fair market value
*	 Calculating taxable benefits
	 -	 Company vehicles
	 -	 Group-term life insurance
*	 Relocation benefits
*	 Prizes and awards
*	 Gift cards/certificates
*	 Education assistance
Deductions From Pay (2.0 Hours)
*	 Voluntary deductions
*	 Involuntary deduction 			
	calculations
	 -	Priority
	 -	 Disposable earnings/take-		
		 home pay

	 -	 Child support
	 -	 Federal tax levies
	 -	 Creditor garnishments
Depositing Taxes (1.0 Hour)
*	Frequency
*	 Special circumstances
	 -	 Fixed liabilities
	 -	Holidays
	 -	Quarter-ends
	 -	 Shortfall deposits
*	 Making the deposit
Preparing the Payroll and
Tax Returns (2.0 Hours)
*	 Complete tax returns
	 -	 Form 941
	 -	 Form W-2
*	 Federal unemployment tax
	 -	 Form 940
	 -	Deposits
*	 Reconciliation of Forms 941 		
	 and W-2
*	Penalties
Methods of Payment (1.0 Hour)
*	Checks
*	 Direct deposit
*	 Payroll cards
Payroll Accounting (1.0 Hour)
*	 Accounting statements
*	 Types of accounts
*	 Double entry accounting
*	 Accounting periods
*	Accruals/reversals
*	 General ledger reconciliation
*	 Payroll balancing
*	 Internal controls
Recordkeeping (0.5 Hour)
*	 Payroll master file
*	 Retention requirements
*	Penalties
Improving Your Work Efficiency (2.0
Hours)
*	 Customer service
*	 Improving your
	 communication skills

© 2020 API Fund for Payroll Education, Inc.



2021 PR101-201 Brochure

Table of Contents for the Digital Edition of 2021 PR101-201 Brochure

2021 PR101-201 Brochure - 1
2021 PR101-201 Brochure - 2
2021 PR101-201 Brochure - 3
2021 PR101-201 Brochure - 4
2021 PR101-201 Brochure - 5
2021 PR101-201 Brochure - 6
https://www.nxtbook.com/americanpayroll/americanpayroll/21_PR101-201_Brochure_010521
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