On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Christine Stolpe
- Topic: Payroll, Human Resources, Business Skills
- Credit: ATAPR 1.5, ATAHR 1.5, ATAOP 1.5, RCH 1.5, HRCI 1.5, SHRM 1.5, CPE 2.0
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Prepare for year-end with confidence! This course will guide payroll professionals through essential tasks and best practices to ensure a smooth and compliant year-end close. Learn how to verify employee information, process payroll adjustments, meet reporting requirements, and reconcile payroll accounts. Discover how to avoid common errors, manage corrections, and effectively communicate with employees about their year-end statements. Gain the tools and knowledge needed to handle year-end payroll challenges effectively and efficiently.
Your Benefits For Attending:- Essential Year-End Payroll Tasks and Deadlines: Understand the critical tasks and deadlines required to close the year smoothly and compliantly.
- Compliance and Reporting Requirements: Learn the necessary compliance steps for W-2s, 1099s, and other essential year-end forms.
- Strategies for Managing Adjustments and Conducting Reconciliations: Gain strategies for handling adjustments and conducting thorough reconciliations to ensure accuracy and compliance.
- Effective Communication with Employees: Discover best practices for effectively communicating year-end information to employees, minimizing confusion and enhancing satisfaction.
- Introduction
- Today’s Objectives 00:04:41
- Why Year-End Matters 00:05:47
- Key Year-End Payroll Tasks 00:08:15
- Best Practices for Accuracy 00:22:51
- Managing Deadlines 00:35:24
- Avoiding Common Pitfalls 00:49:30
- Efficient Year-End Strategies 00:57:18
- Technology Solutions 01:05:33
- Communication Best Practices 01:16:47
- Key Takeaways 01:25:51
- Any Questions? 01:38:04
- Thank You! 01:38:22
- Presentation Closing 01:41:05
- 401(k) 00:20:39
- Artificial Intelligence (AI) 01:05:39
- Audit 00:06:33, 00:36:03, 00:49:02, 01:06:03, 01:34:49
- EIN 00:17:25
- Form 1099 00:07:03, 00:17:22, 00:26:16
- Form 941 00:12:41, 00:13:57, 00:37:25, 01:27:42
- Form W-2 00:06:59, 00:09:25, 00:11:55, 00:14:03, 00:19:57, 00:26:14, 00:37:07, 00:39:10
- Form W-3 00:37:00
- General Ledger (GL) 00:08:48
- Health Savings Account (HSA) 00:20:35
- Independent Contractor 00:17:30
- Reconciliation 00:09:03, 00:11:51, 00:41:06, 01:27:40
- Vendor 00:45:18, 01:27:36
401(k): In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code.
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Audit: A formal examination of an organization's or individual's accounts or financial situation
EIN: The Employer Identification Number, also known as the Federal Employer Identification Number or the Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service to business entities operating in the United States for the purposes of identification.
Form 1099: Form 1099 is one of several IRS tax forms used in the United States to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Form W-2 is used instead). - Wikipedia (https://en.wikipedia.org/)
Form 941: Federal form 941, also called a quarterly federal tax return, is an IRS return that employers use to report their FICA taxes paid and owed for the period. The IRS uses this form to calculate the amount of employer tax payments made during the year as well as the amount of taxes due at the end of the year.
Form W-2: Form W-2 is an Internal Revenue Service tax form used in the United States to report wages paid to employees and the taxes withheld from them. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. - Wikipedia (https://en.wikipedia.org/)
Form W-3: Form W-3 is a tax form used by employers to report combined employee income to the Internal Revenue Service (IRS) and the Social Security Administration. Employers who send out more than one Form W-2 to employees must complete and send this form to summarize their total salary payment and withholding amounts.
General Ledger (GL): A complete record of the financial transactions over the life of a company.
Health Savings Account (HSA): A savings account used in conjunction with a high-deductible health insurance policy that allows users to save money tax-free against medical expenses.
Independent Contractor: An independent contractor is a person or entity contracted to perform work or provide services to another entity as a non-employee. As a result, independent contractors must pay their own Social Security and Medicare taxes. - Investopedia (https://www.investopedia.com/)
Reconciliation: Payroll reconciliation is when you compare your payroll register with the amount you're planning to pay out to your employees to confirm those numbers match. The simplest way to think about it is double-checking your math to ensure that you pay your employees correctly. Payroll reconciliation should happen frequently.
Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.
