In today’s world payroll processionals have technology that calculates the gross to net of an employees pay considering all department of Labor (wage and hour division) and Internal Revenue Service tax laws. This is a benefit, but it can also be a detriment, as payroll professionals how do we make sure our systems calculate correctly. How do we test new functionality and make sure our systems are doing them correctly when we as payroll professionals don’t know how to calculate a payroll check.

This session will give the participant the full picture of all the federal laws and the skills to be able to calculate an employees pay manually. Everything from the gross to net payroll, this includes gross overtime pay, deductions and the difference between before and after-tax deductions along with taxable compensation and the full payroll tax calculation. Even garnishment calculations will be included.

Learning Objectives:

· Overtime rules for calculation

o Regular rate of pay

o Minimum wage

o Tipped Employees

· Benefits Deductions

o Before tax and after tax deductions

o Cafeteria 125 Deductions

· Garnishment Deductions

o Child support limits and beyond

o Federal and State Tax Levies

o Student loan updates

o Creditor Garnishments

· Employer Deductions

· Taxes

o Form W-4

o Federal Tax Calculations

o FICA Tax calculation