An employee's work week is always based on 40 hours.

Self-Employed individuals are not required to contribute to social security and medicare.

Pretax deductions (benefits) are deducted from an employee's wages before tax is calculated and deducted.

An employee's marital status is not required in order to calculate the amount of income tax to withhold.

An employee's marital status is not required in order to calculate the amount of social security and medicare to withhold.

IRS Form 940 is the Employer's Quarterly Tax Return.

Most businesses are exempt from federal and state unemployment taxes.

The Fair Labor Standards Act requires an employer to pay double time for hours worked on a holiday.

Working Owners of "pass thru" types of business organizations are generally considered to be employees.

An employee's gross earnings is charged (distributed) to Payroll General Ledger Expense Account(s).

Paid vacations and sick leave are a couple of examples of fringe benefits.

Bonuses, if paid to any employee, must be paid to all employees.

Schedule SSN is used to calculate self employment taxes.

Most states do not have a state income tax and require employers to wihhold these taxes from their employee's wages.

An employer who has any "tipped" employees is not subject to special rules that apply to how tips are paid and reported.

At times, it might be prudent for a business to seek professional guidance pertaining to labor laws.

It is always legal to deduct cash shortages resulting from an employee's negligence from an employee's wages.

Some fringe benefits provided by an employer are subject to special rules, laws, or regulations.

The payroll record that records all the payroll checks issued to all employees each pay period is called the Payroll Journal.

An employee's calculated overtime rate is only based on their base rate of pay and does not include other compensation such as bonuses.

An employee, regardless of how their pay is calculated, must receive at least the minimum wage rate for the hours they worked.

Form W-10 is used to report an employee's earnings and deductions for the calendar year.

The IRS does not require employers to pay or deposit employment taxes and withholdings on a "pay as you go" basis.

Normally, self employed individuals are not required to estimate and make any advance payments for self employment or income taxes.

A federal payroll tax deposit is made up of federal income tax withheld and both the employee's and employer's portion of payroll taxes.