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Paycheck Calculation Basics

Gain valuable insights into the complex process of payroll calculations.

This topic is designed for persons who are responsible for calculating employee pay manually, testing the validity of the payroll system that calculates employee pay, or responsible for answering questions regarding the calculation of employee pay. This material will help you take away valuable information to ensure you can handle various calculation scenarios with confidence.

Runtime: 86 minutes
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Why Lorman?

Over 33 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

Calculating Gross Pay

  • Regular Rate of Pay Recap
    • Inclusions
    • Exclusions
  • Components of Gross Pay
    • Hourly
    • Salary
    • Piece Rate
    • Commission
    • Tip Pay
  • Cash vs. Noncash Payments
    • Impact on Net Pay
    • Examples

Taxes and Other Deductions

  • Federal Taxes
    • Calculation Types
  • FICA(Social Security and Medicare Taxes)
  • State Taxes
  • Other Deductions
    • Voluntary
    • Involuntary
  • Pre-Taxed vs. Post-Taxed
  • Gross Ups

Net Pay Calculation

  • Calculating Net Pay
  • FLSA Minimum Wage
  • Wage Assignment and Other Garnishment Impact
    • Disposable Pay
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More Program Information

Why Lorman?

Over 33 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 June 17, 2020.

Call 1-866-352-9540 for further credit information.

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • HR Certification Institute 1.5
     
  • This E-Learning program has been approved for 1.5 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.25
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.25 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 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

Veronica B. King, CPP, PB

Veronica B. King, CPP, PB

Pay-Pro Business and Consumer Resources

  • Owner of Pay-Pro Business and Consumer Resources, offering payroll consulting and services
  • Executive eirector of Payroll and Tax Services at the Virginia Commonwealth University
  • Adjunct professor at Prince George’s Community College, offering the Pay Train Level 1 and Level 2 certification courses for the APA
  • Has been in the payroll profession since 1998
  • Worked with some of the top known companies as an employee, consultant or trainer such as Trader Publishing Company, The Johns Hopkins Health System, and the Department of the Defense
  • Obtained the American Payroll Association Certified Payroll Professional designation via self-study in 2004
  • B.S. degree in business management, Hampton University; M.S. degree in professional accounting/taxation emphasis, Strayer University
  • Can be contacted at 443-220-3242
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Why Lorman?

Over 33 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407492
Published 2020
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