FUNDAMENTAL PAYROLL CERTIFICATION 2024 LATEST EXAM WITH VERIFIED ANSWERS

FUNDAMENTAL PAYROLL CERTIFICATION 2024 LATEST EXAM WITH VERIFIED ANSWERS 1. Common Law Test • behavioral control • financial control • relationship of parties 2. Independent Contractor company has little control on how job should be done, worker invests on their own, no training received, no benefits, no taxes withheld 3. Employee income tax, SS, Medicare tax withheld. 4. Form SS-8 Employer can file and IRS will determine worker's status for federal tax purposes 5. Reasonable Basis Test Employee under common law test can be considered independent contractor if: • prior IRS ruling • prior IRS audit that didn't result in violation • common practice in the industry • advice from lawyer or accountant 6. FLSA minimum wage, child labor, overtime 7. Federal Minimum Wage $7.25 per hour 8. Tip Credit $5.12 per hour max, making minimum wage for tipped employees $2.13Receive tips greater than $30 in a month