Panda
True/False: Can you see all previously terminated employees?
True
Who pays into FICA?
Employer and Employee
What does FLSA stand for?
Fair Labor Standards Act
What are the two types of "pay" that are shown on a paystub?
What is the timeframe to reverse a payroll?
5 days
Where can I go to see if Gusto has started pulling the money from the Employers account for payroll?
Recent NACHA's
This is collected by a store or seller and paid by the consumer?
Sales Tax
What did the New Deal do?
Redefined the role of the federal government.
What are the two types of tax deposit schedules?
Monthly and semi-weekly
What is the difference between a 1099 and W2 employee?
Contractor vs hourly/salary employee. W2 employee protected by the FLSA. 1099 employee does not receive benefits and will receive their full paycheck with no deductions applied.
What are the steps to take when an R01 error is found in a recent NACHA?
Confirm funds are in bank and manually rerun payroll.
What is the wage base on Medicare?
1.45% on the first $200,000 and 2.35% on anything above that.
What is the current FUTA wage base limit?
$7,000
What information is needed to expedite a payroll?
The last 4 digits of the company bank account number that is listed in Panda
Enough available funds to cover the total inflight amount shown on the payroll
Today’s date
Is a Roth 401(k) a pre or post tax deduction?
Post-tax
What are the two file format option when running a report In-app?
CSV and PDF
List all the taxes which an employer is liable to pay
FICA, SIT, FUTA, SUTA
What year was Social Security established?
1935
What is the wage base for OASDI?
$137,700
If a worker from Wisconsin sees the following hour break down on their paystub how many hours of OT will they be paid for?
64 regular hours, 8 PTO, 16 OT hours
0 hours
What steps did an employer have to take to have the 2-day payroll pill in Panda?
Nothing, new customers immediately have the option for this.
$46.07
30 years or since the 1990s
What line item was removed with the redesign to the 2020 W-4?
Allowances
What is a NOC?
Notice of Change