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CERTIFIED PAYROLL PROFESSIONAL (CPP) FINAL EXAM AND PRACTICE EXAM QUESTIONS ACTUAL COMPLETE 450 REAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+ $25.99
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CERTIFIED PAYROLL PROFESSIONAL (CPP) FINAL EXAM AND PRACTICE EXAM QUESTIONS ACTUAL COMPLETE 450 REAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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CERTIFIED PAYROLL PROFESSIONAL
Institution
CERTIFIED PAYROLL PROFESSIONAL
CERTIFIED PAYROLL PROFESSIONAL (CPP) FINAL EXAM AND
PRACTICE EXAM QUESTIONS ACTUAL COMPLETE 450 REAL
EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
CERTIFIED PAYROLL PROFESSIONAL (CPP) FINAL EXAM AND
PRACTICE EXAM QUESTIONS ACTUAL COMPLETE 450 RE...
CERTIFIED PAYROLL PROFESSIONAL (CPP) FINAL EXAM AND
PRACTICE EXAM QUESTIONS ACTUAL COMPLETE 450 REAL
EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
What are Statutory employees? - ANSWER --Agree all
services performed personally by worker (NO
subcontracting)
-No substantial investment in equipment or facilites other than
transportation costs
-Continuing relationship, not single transaction
-Not EEs under common law but treated as EEs for tax purposes
-Subject to SS/MED for EE/ER
-NOT required to withhold FIT
-May be subject to FUTA
Penalties for Misclassification (issuing a form 1099 MISC instead
of W2 - ANSWER -FIT- tax accessed 1.5% of
wages
paid.
Doubled to 3% if ER
failed to file at all
,FICA- tax accessed 20%
Doubled to 40% if ER failed to file at all
Pay 100% of shared SS/Med taxes
Also, back taxes and penalties on the state/local levels.
Medical Loss Ratio (MLR) - ANSWER -rebates may be taxable
o The Affordable Care Act requires companies to spend a
specified percentage of premiums paid on medical care
and quality improvements. If the requirement is not met,
the insurance companies are required to provide rebates
to their consumers beginning in 2012. Does not apply to
self insured plans
o MLR rebate can be a form of premium reduction that
employers pass on to employees in the form of a
reduction in the premiums.
The amount of the rebate is taxable income to the employees if
they pay their portion of the premium with pre-tax dollars.
This is also taxable if the employees receive a cash rebate rather
than a reduction in premium.
• This is because the rebate is a return to the employee of a pretax
deduction that is no longer being used to pay for health insurance.
W2 Box 12 DD Reporting - ANSWER -ER's with more than 250 W2
employees are subjet to report medical Cost
of employer sponsored health insurance coverage
(required for 2012 and not taxable)
, MSA (Medical Savings Account/Archer MSAs) - ANSWER -• ONLY
available for employers with no more than 50 employees.
• Contributions can ONLY be made by EITHER the employee or the
employer, NOT both.
o The deduction/contribution cannot exceed the employee's
compensation. o If the employer contributes, it must be the same
amount for each employee based on either a dollar amount or a
percentage.
• MSAs cannot be part of a cafeteria plan.
• Must be reported in box 12 of the W2, code "R" • Not subject to
Cobra continuation coverage.
• If employee has a HSA in addition to the MSA the employer can
only contribute to one, not both.
Long Term Care Insurance - HIPAA 1996 - ANSWER -Long Term Care
Insurance Contracts are generally treated
as accident and health insurance contracts and are excluded
from income as amounts received for personal
injury, sickness, and
reimbursement for medical
expenses.
• If the contract makes per diem payments the excludable
amount will be capped at $330/day (2014).
Cobra 1985/86 - ANSWER -The employer is subject to penalties for
non-compliance of $100 per day of non compliance for each
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