6.2% SOCIAL SECURITY TAX ON FIRST $160,200 OF WAGES EARNED $2000.00 AMOUNT TO CLAIM FOR EACH DEPENDENT UNDER 17 YEARS OF AGE SEMIMONTHLY 24 PAY DISBURSEMENT FOR A YEAR HUNDREDTH HOUR SYSTEM NUMBER OF MINUTES IN PARTIAL HOUR DIVIDED BY 60 MINUTES PER HOUR SUTA RATES AND WAGE BASE VARY BETWEEN STATES. IRCA IMMIGRATION REFORM AND CONTROL ACT OF 1986: REQUIRES EMPLOYERS TO VERIFY THE EMPLOYEE’S LEGAL RIGHT TO WORK IN UNITED STATES. BI- WEEKLY TWO-WEEK PERIOD RECEIVES 26 PAY DISBURSEMENT FOR A YEAR WAGE BRACKET AND PRECENTAGE METHOD TWO WAYS TO CALCULATE FEDERAL INCOME TAXES BALANCE SHEET REPORT CONTAINS ASSESTS AND LIABILITIES OF A BUSINESS ON A SINGLE DATE ACCOUNTING EQUATION ASSESTS=LIABILITIES + OWNERS EQUITY PAY RATE AMOUNT PER HOUR EMPLOYEES RECEIVE FOR THEIR LABOR PAYROLL REGISTER INTERNAL TOOL USED TO ENSURE ACCURACY OF EMPLOYEE COMPENSATION QUARTER- HOUR SYSTEM 8hr 6 min = 8 hours 8hr 9 mins = 8.25 hours FORM 941 EMPLOYERS USE THIS FORM TO REPORT QUARTERLY TAXES DEPOSITED AND TAXES DUE EIN EMPLOYER IDENTIFICATION NUMBERS: THE WAY THE FEDERAL GOVERNMENT KEEPS TRACK OF EMPLOYER FUTA 6.0% OF 1ST $7,000 OF AN EMPLOYEES WAGES DURING CALENDAR YEAR INCOME STATEMENT REPORTS ALL REVENUE AND EXPENSES FOR A SPECIFIC TIME PERIOD PUBLICATION 15 T IRS PUBLICATION FOR INCOME TAX CALCULATIONS 1.45% MEDICARE TAX ON WAGES EARNED. FLEXIBLE SPENDING ARRANGEMENT (FSA) FSA ANY UNUSED FUNDS AT END OF THE PLAN YEAR MAY NOT BE ACCESSED AFTERWARD. HEALTH SAVINGS ACCOUNT (HSA) HSA PLANS UNUSED FUNDS ROLL OVER EACH YEAR AND CONTINUE TO GROW WITH ACCOUNT. CAFETERIA PLANS “SECTION 125” PLANS USUALLY PRE-TAX TO MAKE EMPLOYER- SPONSORED BENEFITS MORE AFFORDABLE FOR EMPLOYEES. FRINGE BENEFITS COMPENSATION THAT EMPL0YERS USE TO REWARD AN EMPLOYEE FOR COMPANY SERVICE. 401K EXCLUDED FROM FEDERAL TAX BUT ARE SUBJECT TO SOCIAL SECURITY AND MEDICARE TAXES. 6.2% SOCIAL SECURITY TAX ON FIRST $160,200 OF WAGES EARNED $2000.00 AMOUNT TO CLAIM FOR EACH DEPENDENT UNDER 17 YEARS OF AGE SEMIMONTHLY 24 PAY DISBURSEMENT FOR A YEAR HUNDREDTH HOUR SYSTEM NUMBER OF MINUTES IN PARTIAL HOUR DIVIDED BY 60 MINUTES PER HOUR SUTA RATES AND WAGE BASE VARY BETWEEN STATES. IRCA IMMIGRATION REFORM AND CONTROL ACT OF 1986: REQUIRES EMPLOYERS TO VERIFY THE EMPLOYEE’S LEGAL RIGHT TO WORK IN UNITED STATES. BI- WEEKLY TWO-WEEK PERIOD RECEIVES 26 PAY DISBURSEMENT FOR A YEAR WAGE BRACKET AND PRECENTAGE METHOD TWO WAYS TO CALCULATE FEDERAL INCOME TAXES BALANCE SHEET REPORT CONTAINS ASSESTS AND LIABILITIES OF A BUSINESS ON A SINGLE DATE ACCOUNTING EQUATION ASSESTS=LIABILITIES + OWNERS EQUITY PAY RATE AMOUNT PER HOUR EMPLOYEES RECEIVE FOR THEIR LABOR PAYROLL REGISTER INTERNAL TOOL USED TO ENSURE ACCURACY OF EMPLOYEE COMPENSATION QUARTER- HOUR SYSTEM 8hr 6 min = 8 hours 8hr 9 mins = 8.25 hours FORM 941 EMPLOYERS USE THIS FORM TO REPORT QUARTERLY TAXES DEPOSITED AND TAXES DUE EIN EMPLOYER IDENTIFICATION NUMBERS: THE WAY THE FEDERAL GOVERNMENT KEEPS TRACK OF EMPLOYER FUTA 6.0% OF 1ST $7,000 OF AN EMPLOYEES WAGES DURING CALENDAR YEAR INCOME STATEMENT REPORTS ALL REVENUE AND EXPENSES FOR A SPECIFIC TIME PERIOD PUBLICATION 15 T IRS PUBLICATION FOR INCOME TAX CALCULATIONS 1.45% MEDICARE TAX ON WAGES EARNED. FLEXIBLE SPENDING ARRANGEMENT (FSA) FSA ANY UNUSED FUNDS AT END OF THE PLAN YEAR MAY NOT BE ACCESSED AFTERWARD. HEALTH SAVINGS ACCOUNT (HSA) HSA PLANS UNUSED FUNDS ROLL OVER EACH YEAR AND CONTINUE TO GROW WITH ACCOUNT. CAFETERIA PLANS “SECTION 125” PLANS USUALLY PRE-TAX TO MAKE EMPLOYER- SPONSORED BENEFITS MORE AFFORDABLE FOR EMPLOYEES. FRINGE BENEFITS COMPENSATION THAT EMPL0YERS USE TO REWARD AN EMPLOYEE FOR COMPANY SERVICE. 401K EXCLUDED FROM FEDERAL TAX BUT ARE SUBJECT TO SOCIAL SECURITY AND MEDICARE TAXES.
(Print)
SOCIAL SECURITY TAX ON FIRST $160,200 OF WAGES EARNED
AMOUNT TO CLAIM FOR EACH DEPENDENT UNDER 17 YEARS OF AGE
24 PAY DISBURSEMENT FOR A YEAR
NUMBER OF MINUTES IN PARTIAL HOUR DIVIDED BY 60 MINUTES PER HOUR
RATES AND WAGE BASE VARY BETWEEN STATES.
IMMIGRATION REFORM AND CONTROL ACT OF 1986: REQUIRES EMPLOYERS TO VERIFY THE EMPLOYEE’S LEGAL RIGHT TO WORK IN UNITED STATES.
TWO-WEEK PERIOD RECEIVES 26 PAY DISBURSEMENT FOR A YEAR
TWO WAYS TO CALCULATE FEDERAL INCOME TAXES
REPORT CONTAINS ASSESTS AND LIABILITIES OF A BUSINESS ON A SINGLE DATE
ASSESTS=LIABILITIES + OWNERS EQUITY
AMOUNT PER HOUR EMPLOYEES RECEIVE FOR THEIR LABOR
INTERNAL TOOL USED TO ENSURE ACCURACY OF EMPLOYEE COMPENSATION
8hr 6 min = 8 hours
8hr 9 mins =
8.25 hours
EMPLOYERS USE THIS FORM TO REPORT QUARTERLY TAXES DEPOSITED AND TAXES DUE
EMPLOYER IDENTIFICATION NUMBERS: THE WAY THE FEDERAL GOVERNMENT KEEPS TRACK OF EMPLOYER
6.0% OF 1ST $7,000 OF AN EMPLOYEES WAGES DURING CALENDAR YEAR
REPORTS ALL REVENUE AND EXPENSES FOR A SPECIFIC TIME PERIOD
IRS PUBLICATION FOR INCOME TAX CALCULATIONS
MEDICARE TAX ON WAGES EARNED.
FSA ANY UNUSED FUNDS AT END OF THE PLAN YEAR MAY NOT BE ACCESSED AFTERWARD.
HSA PLANS UNUSED FUNDS ROLL OVER EACH YEAR AND CONTINUE TO GROW WITH ACCOUNT.
“SECTION 125” PLANS USUALLY PRE-TAX TO MAKE EMPLOYER-SPONSORED BENEFITS MORE AFFORDABLE FOR EMPLOYEES.
COMPENSATION THAT EMPL0YERS USE TO REWARD AN EMPLOYEE FOR COMPANY SERVICE.
EXCLUDED FROM FEDERAL TAX BUT ARE SUBJECT TO SOCIAL SECURITY AND MEDICARE TAXES.
