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Home page of the American Institute of Professional Bookkeepers — the bookkeeping profession's association. About the American Institute of Professional Bookkeepers (AIPB) — recognizing bookkeeping as a profession and bookkeepers as professionals Services from the American Institute of Professional Bookkeepers designed to help bookkeepers gain recognition as professionals. Bookkeeping Tips, one valuable bookkeeping, tax, payroll, filing or recordkeeping tip e-mailed to you each week—free. How to contact the American Institute of Professional Bookkeepers Site Map for the American Institute of Professional Bookkeepers (AIPB.org) - the bookkeeping profession's association.
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Continuing Education

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MASTERING PAYROLL II
275 pages + optional open-book final exam

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Members pay $49
Non-members pay $59

Section 1: FIT withholding: The wage bracket and percentage methods. How to use IRS tables and special withholding rates.

Section 2: Fringe benefits. How to tax working condition fringes . . . qualified employee discounts . . . health insurance . . . transportation, parking, awards, and more.

Section 3: Fringe benefits. How to tax and report each taxable fringe on the W-2, 941 and 940. The special accounting rule.

Section 4: Expense reimbursements, advances and allowances. What's taxable v. nontaxable. Required substantiation. The dollar-for-dollar, standard mileage and federal per diem reimbursement methods. W-2 reporting.

Section 5: Personal use of company cars. 3 safe-harbor methods for valuing personal use and 4 requirements for using them. Reporting the value on the employee's W-2.

Section 6: Deferred compensation and "cafeteria" plans. How to withhold pretax and report contributions to 401(k) plans and SEPs on the 941 and W-2. Contribution limits.

Section 7: Disability v. third-party sick pay. Handling sick pay from the employer v. self-insured plan v. insurer. FUTA and FIT taxability. Reporting sick payments on the W-2, 941 and 940.

Section 8: Taxing and reporting life insurance benefits. Reporting group-term life on the 940, 941 and W-2.

Section 9: Imputed income and gross-up for cash payments. How to compute a bonus that includes the employee's share of taxes or withhold taxes after a cash bonus has been given.

Section 10: Imputed income and gross-up for fringe benefits. How to compute the employee's share of taxes on a fringe benefit from which taxes have not been withheld.

Section 11: Voluntary v. involuntary deductions. Child support orders, federal/state levies, other notices. Deductions permitted from employee pay before levy. Limits on the levy.

Section 12: Basics of workers' comp insurance. Variations by state. Classification codes, computing premiums, taxation of workers' comp benefits.

Glossary of key terms.

Appendix of sample payroll forms with instructions: W-4, 8109-B, 940, 941—Schedule B, 944, 945, 945-A, W-2, W-3, W-2c and W-3c, I-9, 1099-MISC.

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