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Alison Payroll
Computing Wages, Salaries, and Taxes
Term | Definition |
---|---|
Payroll | Process of paying employees' wages Starts with creating list of employees to be paid and concludes with recording the charges Preparing pay checks and withholding taxes Maintain employee pay records throughout the year |
FLSA - Company Coverage | Coverage extends to all EEs if at least 2 workers create commodities for or engage in interstate commerce |
FLSA - Individual Coverage | Provided by FLSA if worker engages in or produces items for interstate commerce Company still required to pay even if corporation fails to fulfill enterprise coverage standard |
FLSA - Domestic EE | Workers must be paid minimum wage if they: * Provide services in one or more houses totaling 8 hours or more per workweek * Receive earnings totaling at least $1000 in a calendar year |
FLSA Domestic Service | Services conducted in or around a private residence of the hiring person Entitled to OT pay if worker does not live on premises Not entitled to OT pay if worker lives on premises |