Page 17 - Essentials of Payroll: Management and Accounting

Pr eface
the payroll function. They are especially useful for any business that is
striving to reduce its administrative costs in this area.
Chapter 5: Compensation. This chapter covers such key topics as the
status of contractors,wage exemption and payment guidelines,temporary

workers, the minimum wage, compensation computations, tips, back
pay, and a variety of business expense reimbursements.
Chapter 6: Benefits. This chapter covers a number of payroll issues
related to employee benefits, such as cafeteria plans, insurance, pension
plans, sick pay, stock options, and workers’ compensation.
Chapter 7: Payroll Taxes and Remittances. This chapter discusses the
calculation of federal, Social Security, Medicare, and state income taxes,

as well as taxation issues for resident aliens and citizens working abroad.
It also covers the timing, reporting format, and related penalties for tax
remittances.
Chapter 8: Payroll Deductions. This chapter covers the calculation
and related regulations for a number of payroll deductions related to
asset purchases,charitable contributions,child support,pay advances,tax
levies, and other items.
Chapter 9: Payments to Employees. This chapter addresses the spe-
cific procedures for paying employees,using either cash,check,or direct

deposit payments, as well as state regulations related to the frequency
and timing of both regular and termination payments to employees.
Chapter 10: Unemployment Insurance. This chapter addresses the
structure of the federal unemployment tax system, as well as the calcu-
lation of unemployment taxes at the state level. It also covers the com-
pletion and proper depositing of related tax forms.
For those new to the payroll function, this book is best read in

sequential order from cover to cover. For those who are implementing
a new payroll system, the first three chapters will be the most useful,
while for those who want to improve their current systems, Chapters 3,

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