Payroll Closeout 2010 and Preparing for 2011

Why Should You Attend:

Year End closing can be an extremely daunting and tedious time for any payroll department. Tasks must be done correctly or none of the information needed for tax time is valid. This causes delays, additional budget expense and emotional stress, as well as decreased payroll team morale. And of course, the threat of penalties for non-compliance always looms large.

The effort, accuracy and time consumed in closing out the payroll year are directly affected by to two factors:

• A well trained payroll department that knows what to do and when
• The quality of the preparation for the year at hand

This presentation is a thorough recap of compliance issues and requirements for payroll’s 2010 Year End closing and the latest information for preparing the payroll department for a successful 2011.

Learning objectives:

• Best practices for closing out 2010
• Handling duplicate Form W-2 requests correctly
• When to use the Form W-2c
• When to correct the Form W-2 itself

Areas Covered in the Seminar:

• Why you cannot use “magnetic media” in 2010 to submit to SSA but may have to use to submit to the state.
• Reconciliation of Form W-2 to Form 941 and why it must be done.
• Update on year-beginning annual changes for social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, the demise of advanced earned income credit and more.
• How to create a year-end notice to update your employees for the coming year.
• Best practices on organizing the payroll department for year-end including action item check lists for Form W-2, Year end and Year beginning to ensure a smooth process.
• How to handle duplicate requests for Form W-2 including charging fees.
• Best practices for gathering, calculating and reconciling W-2 data.
• Taxation of fringe benefits at year end including awards and prizes, moving expenses, personal use of company cars and gift certificates.
• Electronic delivery of W-2s to employees.
• When to use the Form W-2c and when to correct the W-2 itself.
• State regulatory changes affecting payroll including SUI wage bases, minimum wage increases and more.
• Review of EFW-2 record changes for tax year 2010.
• Review of filing deadlines.
• 2011 changes to Form W-2 including the Affordable Health Care Act

Who Will Benefit:

• Payroll professionals
• Human resources
• Accounting personnel
• Business owners
• Lawmakers
• Supervisors
• Attorneys
• Any individual or entity that must deal with the complexities and technicalities of the payroll process

Instructor Profile:

Vicki M. Lambert, CPP is president and academic director of The Payroll Advisor™ a firm specialized in the training of payroll professionals. With over 30 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.

Ms. Lambert has lectured extensively on payroll administration and compliance issues for clients that have included Automatic Data Processing, CCH Incorporated, Ceridian Employer Services, and The Employer Group. Ms. Lambert has also served as a consultant and in-house trainer for businesses such as Sun Microsystems, Paychex, Fox Studios, Disney, County of Riverside, and City of Hesperia.

Ms. Lambert conceived of, created the teaching and student manual, and coordinated the program for the certificate in Payroll Practice and Management that has been offered on site through the Extended Education Offices of Chapman University, California State University Long Beach; National University; and California State University, Northridge. Through Ms. Lambert’s innovation, the Payroll Practice and Management Online Program is now being offered at Pierce College in WA, Chapman University in CA, Aims Community College in CO, Rock Valley Community College in IL, Bucks County Community College in PA, and in over 400 other colleges and universities nationwide through Cengage Learning/Gatlin Education Services.

Ms. Lambert currently produces and presents audio seminars and webcasts for clients and business groups throughout the country.

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