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| Question | Answer |
| What are the basic requirements of a payroll system? | 1.) Calculate payments due to EEs 2.) Accurately calculate statutory and voluntary deductions 3.) Track payroll tax payments owed to federal and state agencies 4.) Provide reports of payroll costs 5.) Provide security |
| What is Gross Pay? | Earnings before taxes |
| Name 7 Statutory Deductions. | 1.) Social Security 2.) Medicare 3.) Federal Income Tax |
| Name some voluntary deductions. | - medical - dental - vision - 401k - union dues - charitable contributions |
| What are Wage Garnishments? | issued to satisfy a debt owed by employees. |
| What is the Federal Wage Garnishment Law in Title III of the Consumer Credit Protection Act (CCPA) of 1968? | - prohibits employers from terminating employees whose wages are garnished for any one debt, even if the employer receives multiple garnishment orders for the same debt - sets limits on the amount that can be garnished in any single week - defines how disposable earnings are to be calculated for garnishment withholdings |
| What is a Disposable Earning? | What is left in an EE's paycheck after all legally mandated deductions have been made. |
| What payroll records are required by the FLSA? | Name, DOB, SSN, Address, DOB if younger than 19, Sex, Occupation Nonexempt: hours worked, basis for payment, differentials, bonuses, etc. |
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