November 22, 2024 District Mtg Game 1

Should an employee be paid from the Associated Student Body (ASB) funds?

• Yes

• No

• Sometimes

• Only if the expense is for food

Effective January 1, 2025, what will be the new minimum wage in California?

• $17 / hour

• $16.50 / hour

• $16 / hour

• $17.50 / hour

When minimum wage is increased mid-year, what needs to be done for contracted employees whose salary is less than minimum wage?

• Increase the rate

• Create another position for the additional wages

• Layoff the employee

• Payoff and Late Start

When an overpayment is paid back in the current year, how does this benefit the overpaid employee?

• The employee gets credit for the overpaid wages and all overpaid taxes associated with the overpayment

• The employee only gets credit for the FICA / Medicare tax and PERS / STRS

• The employee gets credit for the overpaid wages and all overpaid taxes for the year

• The employee receives a PERS / STRS refund

All taxable and non-taxable __________ is required to be reported on an employee's W-2 form.

• Overpayments

• Void runs

• Business use of district vehicle

• Third party sick pay

Do employees filing "EXEMPT" need to complete a new W4 each year?

• Yes

• No

• Only if they have a new dependent

• Only if they moved

What date are 2024 W2s due to employees?

• 12/31/2024

• 1/1/2025

• 1/31/2025

• 4/15/2025

What form is required to provide the employee for previous year earnings/ tax adjustments?

• Exempt form

• Form W4

• Form W2

• Form W2C

The IRS allows an employer to provide an employee with up to how much of group life insurance on a nontaxable basis?

• $20,000

• $30,000

• $40,000

• $50,000

What is the Dependent Care deduction limit for the calendar year?

• $2,500

• $5,000

• $7,500

• $10,000