Welcome to “Introduction to Business” – Payroll This page is designed for High School and College students to supplement an approved text with a little online learning about payroll. Our site contains numerous articles detailing the facets of payroll. This … Continue reading
Voluntary Deductions
Payroll Articles Voluntary Deductions An Employee can voluntarily agree to wage Deductions that must be implemented by the payroll department. These Deductions may include wage assignments to repay a debt, charitable Deductions, wages withheld to purchase U.S. savings bonds, credit … Continue reading
Filing Form 940
Use Form 940 or Form 940-EZ, Employer’s Annual Federal Unemployment (FUTA) Tax Return, to report FUTA tax. File Form 940 or Form 940-EZ by January 31. However, if you deposited all FUTA tax when due, you may file on or … Continue reading
State Unemployment Insurance
Purpose In general, the Federal-State Unemployment Insurance Program provides unemployment benefits to eligible workers who are unemployed through no fault of their own (as determined under State law), and meet other eligibility requirements of State law. Unemployment insurance payments (benefits) … Continue reading
Federal Unemployment Insurance
To provide income for terminated Employees while they are trying to secure another job, a joint federal- state system of unemployment insurance has evolved. These programs are funded by employer contributions on both the federal and state levels. Federal unemployment … Continue reading
Fair Labor Standards Act
Perhaps the most basic of all payroll and employment laws is the Fair Labor Standards Act of 1938 (FLSA), also known as the Federal Wage-Hour Law. The FLSA does the following: Sets the minimum wage and overtime rates Employees must … Continue reading
