May be Tax?
The Social Security wage base for employee's taxable wages.
$160,200
Two types of voluntary payroll deductions.
Medical, dental, vision insurance, voluntary retirement contributions.
The Federal minimum wage for non-tipped employees.
$7.25
What does FLSA stand for?
Fair Labor Standards Act
What is the Employment Eligibility Verification form known as?
I-9
The age limit for withholding Social Security and Medicare taxes on employees.
There is no age limit.
Define pre-tax deduction.
Deductions which reduce your gross pay for tax purposes.
Is a salaried exempt status employee eligible for overtime premiums?
No.
How many pay periods are there in a year for a biweekly payroll?
26
What is FUTA stand for?
Federal Unemployment Tax Act
The current employee Medicare tax rate for wages up to $200,000.
1.45%
What are two types of involuntary deductions?
Taxes, liens, child support, and garnishments.
Are liens and garnishments earnings or deductions?
Deductions.
The amount of pay remaining for issuance to an employee after deductions have been taken from the individual's gross pay. This is the amount paid to each employee on pay day.
Net Pay.
Name four components that are included in e3.
Applicant Tracking, Talent Management, Timekeeping, Payroll, Credentialing, Benefits, Learning Management, Company Property
This form is the Employee's Withholding Allowance Certificate.
W-4
The deduction of HSA stands for:
Health Savings Account
What are the two main components of the journal entry?
Debits and Credits.
Which tax document do employees receive every year post marked by Jan. 31st?
W2.
What is the name of DATIS HR Cloud's software?
e3
Employee payroll taxes are made up of these four taxes:
Federal Income Tax
State Income Tax
Social Security
Medicare
The maximum percentage to withhold for an employee's wages for spousal or child support if the employee doesn't have a second family.
60%
Are benefits earnings or deductions?
Deductions.
Name four payroll frequencies.
Monthly, Semi-Monthly, Biweekly, Weekly
What does HRIS stand for?
Human Resource Information System