Understanding Payroll for Beginners

Name: Understanding Payroll for Beginners
Rating: 4.2 (545 reviews)

Payroll calculation, processing payroll, taxes, and reporting

Created byMary Bee

Last updated 9/2020

English

What you'll learn

Minimum Wage Requirements
Overtime Calculations
Established Workweek
Independent Contractors vs. Employee Classification
Payroll Taxes
Quarterly and Annual Payroll Reports

Course content

1 section • 11 lectures • 1h 26m total length

Introduction1:19
A little bit about me...if you have any questions, need further explanation or think of a question I didn't answer, please feel free to email me at bizzybeeblog@gmail.com
What is Payroll and what can I do with what it?2:35
Define payroll as the process that calculates take-home pay and learn why it’s surprisingly complex, gaining a solid foundation for handling payroll across 30 million U.S. small businesses.
Independent Contractor versus employee12:05
Clarifies the differences between independent contractors and employees, explains key forms (W-9, 1099-NEC, W-4, I-9), insurance, and the IRS 20 factor test for proper classification.
Minimum Wage2:50
Explore the fundamentals of payroll with a focus on minimum wage: federal, state, local minimums, and tipped employees. Ensure pay meets the federal minimum, $7.25, and research state variations.
Pay Periods1:51
Established Work Week and OT9:23
Establish and maintain a consistent workweek for payroll, and calculate overtime as hours physically worked over 40, with guidance for semi monthly, monthly, and biweekly periods.
Deductions6:45
Bonus - Grossed Up Payroll10:36
Learn how to perform a grossed up payroll bonus calculation to ensure the net take-home matches the target, by accounting for FICA, federal and state withholdings and other taxes.
Tax Due Dates7:54
Quarterly and Annual Reports21:25
Additional Forms9:36
Reconcile quarterly and year-end payroll with a comprehensive form, ensuring W-2s match W-3 and 941 figures, while tracking federal and state withholdings, FUTA, FICA wages, deposits, and confirmations for clients.
Review Quiz

Requirements

No requirements or prerequisites needed for this course.

Description

You probably have better things to do than to spend a lot of time learning payroll. This short, under 90 minutes, course is packed full of valuable payroll information that will give you a great foundation. Knowledge you can leverage to help you to possibly find a position working from home, advance your career, start a six figure business, start a side hustle or just gain more knowledge.

I received an immediate $2.00 per hour raise when I learned what I'm teaching you (and more!). If I would have stayed at that job, that would have been almost $200,000 extra income over lifetime earnings....just for learning how to do payroll.* Can you afford to not take this course?!

This course prepares the learner with the basic knowledge of the fundamentals of payroll. We will go over how to distinguish if they are an independent contractor versus an employee, how to calculate regular versus overtime pay, payroll taxes and briefly touch on quarterly and annual reports that have to be filed.

*Taking this course in no way guarantees you will get a raise or any additional income. There are a lot of variables including, but not limited to, demographics, education, the company you work for, longevity with the company, risks associated with starting your own business and many other foreseeable as well as unforeseeable circumstances and situations. This course is a tool you can to possibly make additional money.

Who this course is for:

Beginner payroll practitioners or anyone looking to get into bookkeeping, accounting, finance or related field.