CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-2 Determining Payroll Tax Withholding.

Slides:

Advertisements

Similar presentations

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-3 Preparing Payroll Records.

Advertisements

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

LESSON 12-1 Preparing Payroll Time Cards Did you know… Payroll is one of the largest expenses to a business?

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Thursday, May 3, 2012 Good morning Moment of silence/Pledge/Announcements Bell Ringer Chapter.

LESSON 12-2 Determining Payroll Tax Withholding

LESSON 13-1 Recording A Payroll

LESSON 12-2 Determining Payroll Tax Withholding

LESSON 12-2 Determining Payroll Tax Withholding

Preparing Payroll Records

Chapter 13 – Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Chapter 12 Preparing Payroll Time Cards. 2 L 12-1 Paying Employees page 341 Money paid for employee services is called a salary. The period covered by.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Preparing Payroll Records Preparing Payroll Time Cards Salary – money paid for employee services Pay period – period covered by a salary payment.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

What different types of taxes are deducted from employee’s paychecks? LESSON DO NOW.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

DETERMINING PAYROLL TAX WITHHOLDING. PAYROLL TAXES  Based on employee’s total earnings  Employee Income Tax  FICA Taxes  Social Security Tax  Medicare.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes  Paying the liability for employee taxes.

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-2 Determining Payroll Tax Withholding.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-2 Determining Payroll Tax Withholding  Payroll taxes  Employee’s withholding allowance.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-2 Determining Payroll Tax Withholding Required by Law to withhold taxes Payroll taxes represent.

Good morning Monday, May 7, 2012

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-2 Determining Payroll Tax Withholding Original created by M.C. McLaughlin, Thomson/South-Western.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-2 Recording Employer Payroll Taxes  Calculating employer payroll taxes  Unemployment.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-3 Reporting Withholding And Payroll Taxes  Employer annual report to employees.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-3 Preparing Payroll Records.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-3 Other End-of-Fiscal-Period Work.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-2 Recording a Payroll and Payroll Taxes.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes.

© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO3 Demonstrate the process for determining.

© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO1 Analyze a payroll transaction. LO2.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-3 Preparing Payroll Records  Payroll register  Employee earnings records.

Determining Payroll Tax Withholding Lesson Payroll Taxes Payroll Taxes: taxes based on the payroll of a business Payroll Taxes: taxes based on the.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 3 Objectives 1.I can define accounting terms related to a departmental payroll system.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Today’s Target! Wed., March 2 nd  Students will ledger Subsidiary Accounts and post to General.

LESSON 12-2 Determining Payroll Tax Withholding

LESSON 12-1 Preparing Payroll Time Cards

© 2015 Cengage Learning. All Rights Reserved.

Reporting Withholding And Payroll Taxes

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

EMPLOYEE’S WITHHOLDING ALLOWANCE CERTIFICATE

© 2014 Cengage Learning. All Rights Reserved.

PAYROLL REGISTER 1. Pay Period Date 8. Health Insurance

LESSON 12-4 Preparing Payroll Checks

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 12-2 Determining Payroll Tax Withholding

Preparing Payroll Records

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-2 Determining Payroll Tax Withholding

Paying Withholding and Payroll Taxes

Paying Withholding and Payroll Taxes

LESSON 12-2 Determining Payroll Tax Withholding

PAYROLL REGISTER 1. Pay Period Date 8. Health Insurance

LESSON 12-2 Determining Payroll Tax Withholding

Presentation transcript:

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-2 Determining Payroll Tax Withholding

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 12-2 EMPLOYEE’S WITHHOLDING ALLOWANCE CERTIFICATE page Write the employee’s name and address 2.Write the employee’s social security number. 3.Check the appropriate marital status block. 4.Write the total number of withholding allowances claimed. 5.The employee signs and dates the form.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 12-2 EMPLOYEE’S INCOME TAX WITHHOLDING – MARRIED PERSONS page Select the appropriate table. 2.Locate the employee’s total earnings. 3.Intersection of wages and number of allowances column.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 12-2 TERMS REVIEW payroll taxes withholding allowance social security tax Medicare tax tax base page 350