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Payroll Deduction Do's and Don'ts

Tuesday,
February 28, 2023
Time:
10:00 AM PST | 01:00 PM EST
Duration:
75 Minutes
Webinar Id:
705846
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Live Version

$145. One Participant
$295. Group Attendees

Recorded Version

$195. One Participant
$395 Group Attendees

Combo Offers

Live + Recorded
$289 $340   One Participant

Live + Recorded
$599 $690   Group Attendees

Group Attendees: Any number of participants

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

Overview:

From an employer's perspective, the rules can get complicated. Not withholding what we should has major consequences - as does deducting what we can’t. If you have an organization of any size, you need to understand more than just federal and state tax withholding.

You need to know what else is mandated, and which deductions are voluntary. You need to know what the FLSA has to say about business expenses - especially for lower-paid workers. You have to know what comes out of pre-tax income and what doesn’t.

You should also understand the ways employers get themselves into trouble with deductions. In addition to penalties and interest, employee debts can become your debts. You can face fines from Dept of Labor for not following FLSA rules. You need to know that many states have stricter rules on deductions. You also need to understand the complexity of wage garnishments, and how they differ from levies. So Join Mark Schwartz for this comprehensive look at payroll deduction Do’s and Don’t’s.

Why you should Attend: We all get familiar with payroll deductions when we earn our first paycheck. Usually, it is just mandatory state and federal taxes that make the difference between gross and net pay. After we gain experience and enter our careers, payroll deductions get far more tricky. Our employers offer us benefits for which we pay part or all - some pre-tax and some post-tax. Certain business expenses may get deducted. Taxing agencies and other creditors may garnish our wages.

Areas Covered in the Session:
  • Which deductions come out of pre-tax income vs which don’t? How to explain the benefit of using these to reduce taxable income to employees
  • Which deductions are mandatory and which aren’t? What the deductions are used for and how to explain them to employees? Also, know what happens if you don’t withhold these
  • Which deductions are voluntary? How to stay on the right side of rules and regulations on the matter. How to talk with employees about the benefits and disadvantages of voluntary deductions
  • An understanding of when you can and can’t deduct business-related expenses from employee paychecks. Where to find information on State rules and regulations, which can and do differ greatly from Federal rules
  • Common mistakes made by employers and how to avoid them
  • Other specific examples beneficial to most businesses
  • Wage Garnishments - the specifics on how to comply and how much to withhold. A brief description of other 3rd party deductions from your employee payhecks
  • Penalties associated with non-compliance

Who Will Benefit:
  • Payroll and HR managers
  • Compensation and hiring staff
  • Finance and Operational Managers
  • Executive Staff
Instructor:

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.


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