Fringe Benefits
This common fringe benefit usually goes by the acronym PUCC
What is Personal Use of Company Car
Social Security/OASDI has this wage limit for 2025, up $7,500 from 2024
What is $176,100.00
What is direct deposit and live checks
This box is where total wages go that are subject to federal income tax
What is box 1
Clients will ask why their contractors didn't receive a 1099, they would not if
What is being paid $600 or less
Personal Use of Company Car is taxable for these three taxes
What is FICA, FIT and FUTA
This tax has a wage limit but continues to calculate at a higher rate for the employee only, when reached
What is Medicare
When creating a bonus check you should never block this tax
What is FICA (Medicare and OASDI)
What type of deductions can affect Box 1
What is pre-tax dedcutions
Some clients like to have their bonus payrolls be a surprise, what two places would we change to ensure them to be a surprise
What is the payroll run schedule/suppress email and in Adaptive Setup/Hide Checks Until PayDate
This common fringe benefit covers insurance premiums for employees who own more than 2% of the company stock
What is S-Corp 2% Shareholders Health Insurance
This annual limit for 2025 is $4,300 for an individual
What is HSA (Individual)
What are the two amount types that clients give us for their bonus checks
What is Net and Gross amounts
This is our W2 pricing per base and employee
What is $55 and $5.95
If a client requests for an employee to have their name changed or address changed, how will the employee receive their new W2
What is in their portal (electronic)
This fringe benefit is non-taxable for the first $50,000 of coverage
What is Group Term Life Insurance
What percentage does Medicare calculate at when an employee reaches the wage limit, for the employee only of course
What is 2.35%
The IRS suggests taxing Federal Withholding at this percentage for bonus checks
What is 22%
The wages included on the W2 go by this date
What is check date
This is our Year End Delivery fee
What is $9
W2 reporting for GTL includes the following boxes
What is boxes 1, 3, 5 and Box 12 (code c)
$11,200 is the 2025 catch up amount for this age group regarding these ages
What is 60-63
What two events need to happen in a bonus payroll to warrant a wire
What is federal taxes over $100,00 or one person getting over $100,000 via direct deposit.
These common benefits affect Box 1
What is Fringe
This is where you would go to override an employee's regular address to a different one in case they want their W2 delivered elsewhere
What is Override Address screen