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Analyzing and Calculating Payroll Time Cards and Withholding Taxes

Learn how to analyze payroll time cards, calculate employee hours worked, total earnings, and determine payroll tax withholding. Understand important terms related to salary, pay period, total earnings, withholding allowances, and payroll taxes.

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Analyzing and Calculating Payroll Time Cards and Withholding Taxes

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  1. LESSON 12-1 Preparing Payroll Time Cards

  2. ANALYZING A PAYROLL TIME CARD page 341 LESSON 12-1

  3. 1 2 3 4 CALCULATING EMPLOYEE HOURS WORKED page 342 1. Calculate the number of regular hours for each day and enter the amounts. 2. Calculate the number of overtime hours and enter the amounts. 3. Add Hours Reg and Hours OT columns and enter the totals. 4. Add the Hours column. LESSON 12-1

  4. 1 2 4 3 5 CALCULATING EMPLOYEE TOTAL EARNINGS page 343 1. Enter the rate for regular time in the Rate column. 2. Calculate the regular earnings. Enter the amount. 3. Enter the rate for overtime. 4. Calculate the overtime earnings. Enter the amount. 5. Add the Amount column to calculate total earnings. Enter the amount of total earnings. LESSON 12-1

  5. TERMS REVIEW page 344 • salary • pay period • payroll • total earnings LESSON 12-1

  6. LESSON 12-2 Determining Payroll Tax Withholding

  7. EMPLOYEE’S WITHHOLDING ALLOWANCE CERTIFICATE page 346 3 2 1 4 5 1. Write the employee’s name and address 2. Write the employee’s social security number. 3. Check the appropriate marital status block. 4. Write the total number of withholding allowances claimed. 5. The employee signs and dates the form. LESSON 12-2

  8. 2 3 EMPLOYEE’S INCOME TAX WITHHOLDING – MARRIED PERSONS page 348 1 1. Select the appropriate table. 2. Locate the employee’s total earnings. 3. Intersection of wages and number of allowances column. LESSON 12-2

  9. TERMS REVIEW page 350 • payroll taxes • withholding allowance • social security tax • Medicare tax • tax base LESSON 12-2

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