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OnDemand Course

Payroll Tax Update

Gain a better understanding of payroll tax issues.

Companies must be diligent in deducting the proper amounts of payroll taxes from employee's paychecks. This is why it is important to ensure you do not misclassify the employees versus the independent contractor. Not only does the employee pay on taxes, but the company must also pay for its employee through the company's portion of taxes. This topic will show how much employees really cost the employer. You will learn about how the fringe benefits given to all level of employees affect the bottom line and which fringe benefits must be taxed and by how much. The material will cover the due dates on taxes and what happens when late payments are made. Lastly, you will learn how to avoid those dreaded tax notices by making deposits properly.

Learning Objectives

  • You will be able to differentiate between the payroll taxes paid for an employee vs an independent contractor.
  • You will be able to recognize the different rates and wage bases for all payroll taxes.
  • You will be able to identify reporting requirements for payroll tax reporting.
  • You will be able to differentiate between taxable and nontaxable employee fringe benefits.

Runtime: 88 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

Employer Taxes: How Much Do Your Employees Really Cost?

  • Misclassification of Employees vs. Independent Contractors
  • Social Security/Medicare Tax - Employer Match
  • Federal Unemployment Tax Calculation - State Loan Repayment
  • State Unemployment Taxes
  • Pre-Tax Medical Deductions

Fringe Benefits

  • Sick or Vacation Pay
  • Company Cars
  • Employee Discounts
  • Tuition Reimbursement
  • Country Clubs
  • Athletic Facilities
  • Frequent Flyer Miles
  • Moving Expenses
  • Employee Parking
  • Holiday Bonuses
  • Deminimus Fringe Benefits

Determining the Due Dates on Taxes

  • Frequency of Federal Tax Payments
  • When Does the Payment Date Become More Frequent?
  • Threshold Amounts to Watch
  • Holidays and How They Affect Due Dates

Tips on Avoiding Tax Notices

  • Steps to Ensure Accuracy
  • Tax Deposit
  • Quarterly Reconciling

Thresholds and Tax Frequencies

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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.

Credits

OnDemand Course

This course was last revised on November 7, 2018.

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

  • CPE/NASBA - QAS Self Study 2.0 including Taxes 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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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.

Faculty

Jackie A. Sexson

Jackie A. Sexson

  • Compliance manager with Fortune 250 company
  • Former executive director with the legal and human resources consulting firm, The Sexson Group
  • Extensive experience in employment and labor law, as well as human resources
  • Has a legal and HR background in employee relations, performance management (360-degree feedback), organizational management, benefits administration, recruitment and selection, compensation, equal employment opportunity, and training and development
  • Experience with the public sector, Fortune 500 companies and small startup companies
  • Held director and executive level positions, and worked as an independent consultant
  • Certified as a senior professional in human resources by the Society for Human Resources Management
  • J.D. and M.B.A. degrees
  • Can be contacted at 303-513-6018 or [email protected]
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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.

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Product ID: 405232
Published 2018
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