Description
Gain valuable insights into the complex process of payroll calculations.
It is important to take the time to learn how to calculate paychecks properly for any business. There are many companies that use payroll services. However, companies should still know what goes into the payroll calculations by understanding the basics. Understanding the basics of paycheck calculations will help companies by ensuring there are no fines because of improper deductions. This webinar will help you understand the basics such as total work time for exempt employees versus nonexempt employees as well as calculating the gross pay before deductions and taxes. Along with calculating gross pay, it is important to understand the sum of payroll taxes and finally the net pay calculations. The webinar will cover common deductions and penalties for missed or late payments. Calculating payroll becomes more complex as you hire additional employees. The ultimate goal is to pay employees properly and ensure all applicable tax agencies receive the correct amount on time. This program will help with this.
Date: 2024-04-03 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to identify the basics needed to calculate a paycheck properly.
* You will be able to define the calculations of gross pay and differentiate between net and gross pay.
* You will be able to explain the differences between federal and state payroll taxes.
* You will be able to review the net pay calculations including common deductions and possible penalties.