Do you have a year-end payroll checklist in place? Ensure that you are in compliance and nothing is missed. Payroll departments should begin to prepare for the year-end well before December 31. The general year-end payroll checklist is important to assure that no part of year-end compliance is missed. Be sure your year-end imputed income amounts are correct and withholding is in compliance. This topic will assist you in reviewing your year-end process to achieve a smooth W-2 compliance season. At the end of the content, you will understand how to complete and submit W-2 forms for your employees, what reporting is required for nonresident alien employees, the state requirements for year-end payroll departments and a look at the changes in the new year.
Join this session by expert speaker Mark Schwartz, where he will go through 2020 Tax Rates and Wage Limit Changes, Recap of important 2019 changes (the In-depthContractor Definitions, New Overtime Rules, ETC}, New legislation announced by the IRS and many more.
Session Highlights:
Major updates for 2020 from the IRS and other agencies
Major points of DOL’s new overtime regulations
New FICA Wage limits
Minimum wage updates
State unemployment insurance rates
Minimum salary requirements to be exempt from overtime
Specific steps on how to efficiently reconcile pay periods to quarterly returns and quarterly returns to yearend forms and information returns
What to keep an eye out for in 2020
Major State and Local legislative changes
How to reconcile 2019 payroll returns and ledgers
How to properly process year-end bonuses, fringe benefits travel pay, etc.
Suggestions for preparing your payroll system for 2020 by the 1st pay period
Why You Should Attend:
Pay period to pay period, payroll can be routine. Over-reliance on automated systems leads to a variety of errors that, if not caught in time, can lead to penalties, interest and other negative consequences. While accounting departments ‘stop the clock” in order to reconcile, adjust and prepare financial statements; payroll does not have this luxury. Hence, being prepared well in advance of year-end can help ensure a smooth year to year transition.
Who Should Attend:
*You may ask your Question directly to our expert during the Q&A session.
** You can buy On-Demand and view it at your convenience.
Mark Schwartz
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.
Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1 PDC for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org
This webinar has been approved for 1 HR (General) recertification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.