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Payroll Practice and Management

GES 409 -- 80 hours

Course Outline

Module One
Wage and Hour Law
Lesson 1: Introduction to the Fair Labor Standards Act

• History of Act
• Rules of Coverage
• Jurisdiction
  • Audits
  • Penalties
Lesson 2: Classification of Workers
• Employees
  • Common law basis test
  • Form W-2 requirements
• Independent Contractor
  • 20 characteristics test
  • Penalties
  • Form 1099-MISC requirements
• Form SS-8
  • Applying the Rules
• Statutory employee
  • Four categories
  • Special taxation
  • Form W-2 requirements
• Statutory Non-employees
  • Two categories
  • Form 1099-MISC requirements
• Leased Employees
  • Taxation requirements
  • Worker’s compensation requirements
Lesson 3: White Collar Exemptions
• Definition of Exempt and Nonexempt
• Four Categories of Exempt
  • Executive
  • Administrative
  • Professional
  • Outside sales
• Salary Basis Requirements
  • FLSA requirements
  • Current court rulings-federal
• Other categories of exempt-federal
Lesson 4: Calculating Gross Pay
• Constructive Receipt
• Minimum Wage
• Regular Rate of Pay
  • Calculations
    • Basic
    • With bonus
    • Piece worker
    • Commissioned worker
    • Multiple hourly rates
• Overtime and Hours Worked Definitions and Calculations
  • Legal plans
  • Unauthorized plans
  • Fluctuating workweeks
• Defining the Legal Workweek
• Defining the Legal Workday
• State Requirements as they pertain to each category
Lesson 5: Other FLSA Requirements
• Posting Requirements
• Meals and Rest Periods
• Deductions From Pay
  • Tools and equipment
  • Rent
  • Meals and lodging
  • Shortages
  • Salary overpayments
• Compensatory Time Off
Lesson 6: Specialized Payrolls, Employees Or Regulations
• Overview of Other Federal Wage and Hour Acts
  • Walsh-Healey
  • Davis Bacon
  • Plant closings
  • Public contracts
• Public Sector Employees
• Hospital Employees
• Agricultural Employees
• New Hire Reporting
Lesson 7: Child Labor
• Maximum hours
• Legal days
• Minimum wage
• Legal ages
• Other Requirements-States
  • Wage Orders
  • Overtime
  • Minimum Wage
  • Statements and Payday Notices
  • Posting Requirements
  • Frequency and Method of Payment
  • Terminations
  • Vacation Pay
  • Meals and Rest Periods
  • New Hire Reporting
  • Reporting Pay
  • Call Back Pay
Module Two
Taxation and Compensation
Lesson One: Federal Payroll Taxes
• Payroll Taxes - Federal
  • EINs
  • Form SS-4
  • Social Security
  • Medicare
  • Unemployment
  • Income Tax
  • Depositing of Taxes
    • Rules
      • Monthly
      • Semiweekly
      • Accelerated
    • Procedures
      • EFT
      • Coupons
      • Common paymaster
      • Penalties
Lesson Two: State Payroll Taxes
• Payroll Taxes - State
  • Income Tax
  • Disability Insurance
  • Unemployment Insurance
  • Deposit Rules
  • Deposit Procedures
  • Common Paymaster
Lesson Three: Multistate Taxation
• Multistate Taxation
  • Income Tax
    • Researching requirements
    • Determining jurisdictions
  • Unemployment Insurance
    • Requirements
    • Jurisdiction
Lesson Four: Employee Withholding Allowance Certificate
• Form W-4
  • Requirements
    • Paper
    • Electronic
  • Exempt Forms
  • Invalid Forms
  • Submission of Forms to IRS
• State Form W-4 Equivalents
  • Requirements
  • Exempt Forms
  • Invalid Forms
  • Submission of Forms to State
Lesson Five: Wages and Compensation
• What Are Wages
  • IRS Definition of Wages
  • State Definition of Wages
• Other Compensation
  • Taxable Compensation
    • Advances
    • Back pay awards
    • Bonuses, prizes and awards
    • Christmas gifts
    • Sick pay
    • Vacation pay
    • Taxes
    • Jury duty pay
    • Military duty pay
    • Meals and lodging
  • Nontaxable Compensation
    • No additional cost services
    • Employee discounts
    • Working condition fringe benefits
    • De minimis fringe benefits
    • Educational assistance
    • Tuition reduction
    • Transportation fringe benefits
Lesson Six: Supplemental Wages and Pay Periods
• Supplemental Wages
  • Definition
  • Taxing Methods
    • Aggregation method
    • Alternate method
  • State Taxation
• Pay-periods
  • Types
  • When to Use
  • Part-time Employees
Lesson Seven: Special Compensation and Wages
• Business Expenses
  • Accountable Plans
  • Nonaccountable Plans
  • Per Diems
  • Auto Reimbursement
  • Business Use of Personal Vehicle
• Tips
  • Reporting Requirements for Employee
  • Reporting Requirements for Employer
  • Recordkeeping Requirements
  • Taxation
  • Tip Credit
    • Minimum wage
    • FICA taxes
  • Tip Allocation
    • Form 8027
  • IRS Programs
• Deceased Employee Wages
  • Year of Death Taxation
  • After Year of Death Taxation
  • Reporting on Form W-2 and Form 1099
Lesson Eight: Reporting
• Wage and Tax Reports
• Federal Form 941
  • Purpose of form
  • Review of 941 series
  • In class exercise on completing form
• Schedule B
  • Purpose of form
  • How to complete form
• State Equivalent
  • Purpose of form
  • In class exercise on completing form
• Multiple Worksite Reports
Class Final

Module Three Fringe Benefits, Compensation and Taxation
• Deferred Compensation
  • 401(k) Plans
    • Definitions
    • Requirements
    • Taxation
    • Check Calculations
    • Reporting
    • Key employees
    • Discrimination testing
  • 403(b) Plans
    • Definitions
    • Requirements
    • Taxation
    • Check calculations
    • Reporting
    • Key employees
    • Discrimination testing
  • 457 Plans
    • Definitions
    • Requirements
    • Taxation
    • Check calculations
    • Reporting
    • Key employees
    • Discrimination testing
  • Other Deferred Compensation Plans
  • Deposit Requirements
• Section 125 Plans
  • Definitions
  • Requirements
  • Taxations
  • Check calculations
  • Reporting
  • Key employees
  • Discrimination Testing
• Section 129 Plans
  • Definitions
  • Requirements
  • Taxation
  • Check Calculations
  • Reporting
  • Key Employees
• Flexible Spending Accounts
  • Requirements
  • Taxation
  • Reporting
• Third Party Sick Pay
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Group Term Life Insurance
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Personal Use of a Company Vehicle
  • Definitions
  • Methods
    • General valuation method
    • Annual lease value method
    • Cents per mile method
    • Commuting method
  • Taxation
  • Reporting
• Relocation
  • Definitions
  • Requirements
  • Taxation
  • Time/Distance Test
  • Reporting
• Incentive Stock Options
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Nonqualified Stock Options
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Employee Stock Option Plans
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Nonqualified Deferred Comp Plans
  • Definitions
  • Requirements
  • Taxation
  • Reporting
• Expatriate Employees
  • Definitions
  • Requirements
  • Taxation
  • Tax Treaties
  • Third Country Nationals
  • Hypothetical and Theoretical Taxes
  • Reporting
• Resident and Nonresident Aliens
  • Definitions
  • Requirements
  • Taxation
  • Reporting
Test

Module Four
Payroll Management and Year End Reporting
• Payroll Procedures
  • Writing
  • Training
  • In Class Exercise
• Manual Check Policy
  • How to Write
  • In Class Exercise
• Staff Training
  • Payroll
  • Computer
• Internet Resources
• Dealing With the IRS
  • Handling IRS Notices
  • IRS Penalties
• Garnishments and Levies
  • Definitions
  • Regulations
  • Child Support
    • Federal Laws
    • State Laws
  • Levies
    • Federal Laws
    • State Laws
  • In Class Exercise
• Record Retention
  • Major Requirements for Each Agency
  • Electronic Requirements
• Direct Deposit
  • Definitions
  • Regulations
  • How to Set Up a Program
• Earned Income Credit
  • Definitions
  • Regulations
  • Form W-5
• Year End Form Review
  • Form W-2
    • Purpose
    • Box by box review
    • In class exercise
  • Form 940
    • Purpose
    • Line by line review
  • Form 940EZ
    • Purpose
    • Line by line review
  • Form W-2c
    • Purpose
    • Box by box review
  • Form W-3c
    • Purpose
    • Box by box review
  • Form 941c
    • Purpose
    • Line by line review
  • Form 1099
    • Purpose
    • Review MISC
• Submission of Forms W-2
  • Magnetic Media Requirements
  • Form W-3
  • State Requirements
• Preparing For Year End
  • Checklists
  • State of the Payroll Address
  • Reconciliation of Form W-2