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MISCELLANEOUS
JOB BETTA HAVE MY MONEY
DEM TAXABLES DOE
LET ME HOLD SUMTIN
SUCH A SOC OR MED, OR WAIT?
100
RECIPROCITY
THIS IS AN AGREEMENT BETWEEN 2 JURISDICTIONS TO DETERMINE TO WHOM AND EE PAYS APPLICABLE TAXES.
100
It is the __________’s responsibility to classify workers correctly. The criteria used to determine whether a worker is an employee or a contractor was established by the _____.
What ARE EMPLOYER AND IRS
100
These are also referred to as Taxables
What are taxable wages
100
THE WAGE BRACKET METHOD REQUIRES EMPLOYS THESE TWO STEPS
What ARE 1. Find the proper table for the payroll period and the employee’s marital status. 2. Based on the number of withholding allowances and the amount of wages, find the amount of income tax to withhold.
100
To calculate Social Security and Medicare taxes YOU DO THE FOLLOWING.
What is multiply the employee’s taxable earnings by the tax rates
200
THESE ARE PAID TO THE IRS AT THESE TIMES BASED ON THESE AMOUNTS....
What ARE DEPOSIT FREQUENCIES BASED ON LIABILITIY AMOUNTS OF 1. 50,000 MONTHLY 2. +50,000 SEMI WEEKLY 3. +100,000 NEXT BUSINESS DAY
200
Certain employees may be exempt from all or some provisions of FLSA. Some employees, such as executive, administrative, professional, computer, and outside sales employees may be exempt from ____________ _______ and ___________ _____.
What ARE minimum wage and overtime
200
these reduce an employee’s taxable wages when pretax dollars are used to contribute to benefits, such as health, life, disability insurance, and qualified tax-deferred savings plans
What are pre tax deductions
200
THESE ARE THE FOUR WITHOLDING METHODS
What ARE 1. Wage bracket 2. Percentage 3. Flat rate 4. Aggregate wages
200
THIS IS THE limit to the amount of earnings subject to Social Security and Medicare taxes
What is 128,400
300
THESE TAXES ARE REPORTED ON FORM 941 AND ARE DUE BY THIS DATE
What ARE Federal income tax, Social Security, and Medicare By the last day of the month that follows the end of the quarter quarter ending is March 31, then due April 30
300
The FLSA regulates the following 6 THINGS
What ARE Minimum wage Overtime pay Equal Pay Act Child labor laws Federal wage garnishment laws Public service contract acts
300
THESE are taken from earnings after disposable pay is calculated. While they affect the amount of net pay that an employee brings home, they do not have an effect on taxable earnings or the calculation of disposable pay
What ARE POST TAX DEDUCTIONS
300
USINGS THE WAGE BRACKET METHOD An employee is paid a biweekly salary of $1,950 and is married with two allowances. THIS IS the tax withholding amount.
What is $160.00
300
BOTH THE EMPLOYEE AND EMPLOYER HAVE RESPONSIBILITY FOR PAYMENT OF THESE.
What ARE SOC, SUI AND SDI
400
With state unemployment systems,this provides for payments of unemployment compensation to workers who have lost their jobs.
What is FUTA
400
THESE 3 THINGS ARE NOT COVERED BY FLSA
What ARE Require vacation, holiday, severance pay, or paid time off. Require premium pay for hours worked on weekends or holidays. Require meal or rest periods for adults. However, a meal/rest period can be unpaid if it is uninterrupted. Require notice or reason for discharge. Limit the number of hours of work for a person 16 years of age or older, providing overtime provisions are met. Specify how often an employee must be paid.
400
FIT is often classified as this type of taxation.
What is subjective
400
To calculate Social Security and Medicare taxes YOU DO THE FOLLOWING.
What is multiply the employee’s taxable earnings by the tax rates
400
THIS IS WHERE I CAN FIND THE STATE UNEMPLOYMENT EARNINGS LIMIT BY STATE.
What is CSS NOTEPAD
500
This taxable wage base is 7000 and will restart if an EE changes companies with a new EIN. This is paid by ?
What is FUTA and the Employer pays
500
What is the common-law test? (Hint: See “Common-Law Rules”) According to the common-law rules, what makes a worker an employee? What are some differences between “common-law” employees and contractors?
What ARE 1. A test used to determine if a worker is an employee or an independent contractor. 2. Employer controls when, where, and how they do their work. Employer provides tools and supplies to do the work. 3. Independent contractors do not have taxes deducted from their pays. Independent contractors do not have benefits such as medical and dental. Independent contractors are paid by the job, not by the hour or pay period.
500
There is _____ limit to the amount of earnings subject to federal income tax. Federal income tax is paid only by _______________. The IRS bases employees’ tax obligations on: __________________________________________________ __________________________________________________
There is NO limit to the amount of earnings subject to federal income tax. Federal income tax is paid only by EMPLOYEES The IRS bases employees’ tax obligations on: MARITAL STATUS AND NUMBER OF ALLOWANCES
500
THIS METHOD EMPLOYS THESE 3 STEPS
1. Multiply one withholding allowance for the payroll period by the number of allowances the employee claims. 2. Subtract that amount from the employee’s wages. 3. Determine the amount to withhold from the appropriate table.
500
THESE STATES REQUIRES EES TO CINTRIBUTE TO SUI.
What ARE ALASKA, NEW JERSEY AND PENNSYVANIA