We love taxes..
What percentage is SS tax ?
6.2%
How would you categorize charity?
Post tax deduction
What report would show a breakdown of EE wages from their most recent pay period ?
pay stub, pay statement, payroll register
What is the 1st step for payroll processing ?
Entering payroll figures
Is roth 401k pre or post tax ?
Post tax
What deductions are required by law ?
Statutory Deductions
What is the length of time reports are available ?
54 weeks
How many total hours are there annually for full time EE's ?
2080
How many states DO NOT have SIT ?
9
What's the medicare percentage after you hit $200,000 in wages ?
2.35%
What report can you find the company totals ?
Payroll register
What is the federal OT rate ?
1.5 times
Who's responsible for SUI ?
Employer or ER
How is FIT deduction calculated ?
W4, current federal tax tables or publication 15
What report section shows the wage & tax register ?
Quarterly reports
What quarter is July-September ?
Q3
How much are you taxed on supplemental wages over $1 million ?
37%
What is the only statutory deduction that is pre-tax ?
health insurance
How can standard reports be produced ?
Online, (no more hard copies)
What would a Christmas bonus be considered ?
Discretionary bonus