In this online seminar, attendees will learn the difference between regular pay, gross pay, and taxable gross, all of which may be different numbers! This can prepare the payroll team to respond to questions from employees who do not understand their paychecks. We will discuss these questions: Do you know if any of your benefit plans are pretax? If you are in multiple states, are you aware of how each state regards Section 125 or 401k plans? What about an employer match for your 401k or 403b plan? Do your benefits include life insurance and are you aware of how this may affect an employee’s taxable income? Do you understand what is taxable and what is also not subject to withholding? If your employees are paid hourly, do they receive the same pay for all jobs, or are there shift differentials, multiple rates, or other additions and changes to the employee’s base rate? The online seminar will discuss methods to ensure that all possibilities are included when calculating pay. Once you have calculated gross pay and then taxable gross, you can concentrate on gross-to-net calculation. We will examine voluntary deductions, and review limits to beliefs as well as deduction rules. If you use a vendor service or SAAS to process your payroll, we will also discuss verifying that the vendor has encompassed all your variations in their calculations. It is always better to be safe than sorry, so ensure that you can verify each employee’s pay-to-gross calculation. as well as the gross-to-net calculation.
WHY SHOULD YOU ATTEND?
Plowing through the many rules regarding taxable, non-taxable, and pre-tax deductions and earnings is challenging. We will help you calculate base to gross wages for multiple scenarios. This online seminar will help you respond to the employee who cannot understand why his/her rate is $1,000 per pay period and the paystub says, “Taxable Gross=$920.00”.Do you pay hourly employees with different hourly rates for different jobs? Do you pay employees in a state that allows pretax deductions? Or are you in a form that does not allow pretax deductions? This online seminar can help you pay these employees correctly every time. Even if you use a payroll vendor, your team should always know how to calculate wages, to verify calculations are correct. Once you pass the “Gross” hurdle and have captured the taxable gross, you can move on to the gross-to-net calculation, highlighting voluntary deductions, the amounts available for such deductions, and net pay. This online seminar contains updated content for 2023!
AREA COVERED
- Taxable vs Salary/Hours
- Blended Rates
- RROP (Regular Rate of Pay) calculation
- Exclusions from taxable
- State differences in taxable calculations
- Additions to and subtractions from the rate
- Taxable items not subject to withholding
- Voluntary and scheduled deductions
- Deduction limits
- Gross-to-net calculation
- Calculating Federal tax based on the current Form W-4 Changes in calculations based on pandemic tax rule changes
WHO WILL BENEFIT?
- Payroll Associate
- Payroll Analyst
- payroll supervisor
SPEAKER PROFILE
Merle Capello is an experienced Payroll Professional who can manage, train and elevate team members, enhancing their skills so that they can be leveraged to benefit clients. Merle is a professional who works to improve processes, by additional knowledge and conforming to rules of compliance. She is also an experienced procedure and policy developer who works to leave a better team behind than the one she finds. Merle is a subject matter expert on compliance, payroll taxes, work rules, and payroll best practices. Merle offers consulting services for those who need a professional's advice and counsel. In her more than 25 years of experience spearheading the development, enhancement, and transfer of payroll and HRIS operations, Merle has learned to provide team members with the guidance and motivation to exceed objectives. Merle enjoys the challenge of implementation and organizational change, using her analytical skills and her knowledge base to make the most prudent decisions for the team and for her clients. Merle easily adapted to either running a department or advising a client on how best to run their department. She can write step-by-step directions for processes if needed, or coach a team member to do so. Merle is also a longtime member of her professional organization, the American Payroll Association. She held Advanced Payroll Certification for over 25 years.
Comments