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DTSTAMP:20240329T120822Z
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DTSTART:20210122T180000
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CLASS:PRIVATE
DESCRIPTION:\n
Description
\n\nPayroll Best Practices: 10 Areas You Must Handle Correctly to
Ensure Compliance
\n\n \;
\n\n*** LIMITED TIME OFFER: FREE $100 AMAZON GIFT CARD! ***
\nREGISTER TODAY! \;
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\n\nPaying an employee is not
simply multiplying the hourly rate by the number of hours worked to get th
e gross wages and deducting the taxes from these.
\n\nEmployer responsibilities go beyond taxing and repo
rting what is paid through the paycheck under IRS and state requirements.
Any payment to an employee could and should be considered taxable wages. S
o the payroll department must not only worry about the fringe benefits it
processes such as third-party sick pay\, but all of the payments made by a
ccounts payable such as auto allowances\, moving expenses\, prizes and awa
rds or gift cards given to employees. Garnishments also have to be handled
properly. And the responsibility doesn&rsquo\;t end when the employment i
s terminated. It is also the employer&rsquo\;s responsibility to ensure th
at all paychecks issued to the employee have been cashed or it must relinq
uish those wages to the state at regular intervals.
\n\nThis highly interactive seminar on payroll compli
ance will help attendees learn:
\n\n\n - Best practices to comply with the various laws and regulation
s in 10 strategic compliance areas that are the key targets of government
audits or considered the most misinterpreted when paying employees.
\n - Which method to use when calcula
ting overtime (there are two permitted under the FLSA).
\n -
What is and is not a permissible deduction t
o an exempt employee&rsquo\;s salary under the salary basis rules and how
to properly deduct for various types of garnishments to ensure compliance.
\n
\n
\nSeminar Fee Inc
ludes:Lunch
\nAM-PM Tea/Coffee
\nSeminar Material
\nUSB wit
h seminar presentation
\nHard copy of presentation
\nAttendance
Certificate
\n$100 Gift Cert for next seminar
\n \;\n
\n - How to handle the tax and wage/ho
ur law requirements when an employee has been overpaid\, and who must hand
le the taxation of third party sick pay&mdash\;the employer\, the employer
&rsquo\;s agent or not the employer&rsquo\;s agent.
\n - State tax implications and requirements for with
holding the proper income tax when an employee lives and works in two or m
ore states.
\n - Best practices
for setting up a system to track\, report and remit wages considered to b
e abandoned.
\n - Key areas to
examine when payments are made to employees through AP such as prizes\, bo
nuses\, awards or gift cards.
\n - How to handle auto allowances\, which may be taxable one month but not
the next.
\n - How to determin
e if the personal use of company property such as cell phones and company
cars are taxable or not and how to determine the taxable wages for the per
sonal use of a company aircraft.
\n - When providing meals or lodging to your employee is or is not taxab
le.
\n
\n\nLearning Objec
tives:
\n\nUpon completing thi
s course participants will:
\n\n\n - Understand how to calculate overtime correctly under the Fair Lab
or Standards Act.
\n - Know whe
n you can and cannot deduct from an exempt employee&rsquo\;s salary.
\n - Be able to determine the proper
state income tax to withhold when an employee lives and works in two or m
ore states and which state gets the unemployment insurance.
\n
- Understand what are the rules and regula
tions governing the withholding for child support\, federal and state tax
levies\, creditor garnishments\, voluntary wage assignments and bankruptci
es.
\n - Learn how to handle ov
erpayments under both wage and hour law as well as IRS regulations and wha
t to do if the overpayment and the repayment occur in separate tax calenda
r years.
\n - Learn the tax ram
ifications of third party sick pay and how whether the insurance company i
s the employer&rsquo\;s agent or not the employer&rsquo\;s agent affects t
he taxation and reporting of the wages.
\n - Understand what is considered abandoned wages and how to tra
ck\, remit and report them properly to the correct state agency.\n
- Comprehend the basic taxation and c
alculations concerning the personal use of company property including cars
\, airplanes\, cell phones\, tablets and housing.
\n - Have a basic understanding of when meals and lodgi
ng provided by the employer are taxable wages to the employee and when the
y are not.
\n - Be able to dete
rmine when an auto allowance paid to an employee is taxable income.
\n - Understand the basic tax rules c
oncerning items paid out of accounts payable such as prizes\, awards\, bon
uses\, educational assistance payments and relocation benefits as well as
the definition of de minimis.
\n
\n\nEvent Tags: FLSA\, Fair Labor Standards Act\, IRS Regulations\,
Basic Tax Rules\, FIT Withholding\, FICA withholding\, FUTA taxation\, Fo
rm 941\, Form W-2\, and more..
\n\nWho will Benefit:
\n\nThi
s HR compliance course is designed for people tasked with ensuring complia
nce within the payroll process for their organization. The following perso
nnel will benefit from the course:
\n\n\n - Payroll professionals
\n - Human resources professionals
\n - Accounting professionals
\n - Finance professionals
\n - Business owners
\n - Legal professionals
\n - Anyon
e responsible for the compliance issues of a payroll department
\n
\n\nTopic Background:
\n\nPaying an employee is not simply mul
tiplying the hourly rate by the number of hours worked to get the gross wa
ges and deducting the taxes from that. Processing a paycheck correctly is
infinitely more complicated. Accurate decisions must be made to determine
the final outcome of the wages owed. These decisions involve the applicati
on of a complex set of wage and hour laws and tax regulations. Misundersta
nding the meaning of the term &ldquo\;regular rate of pay&rdquo\;\, violat
ing the &ldquo\;salary basis rule&rdquo\; or failure to withhold taxes pro
perly for a multistate employee are just a few of the areas where even one
wrong decision can result in grave consequences for the employer. For tha
t error will be costly in terms of penalties\, fines and interest. But the
se complex wage and hour or tax laws do not even scratch the surface of wh
at payroll must comply with to properly process a paycheck. Other laws and
agencies must be satisfied as well. One of the most challenging of these
laws involves deducting for garnishments. Whether it is for child support\
, tax levies or to repay a creditor loan\, garnishments must be handled pr
operly. Deducting too little and the employer face fines from the one issu
ing the garnishment. Take out too much and the employee will have reason t
o sue. It is a fine line to walk indeed.
\n
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