Payroll Mate is always one of the first payroll system providers to implement payroll tax updates and new withholding regulations. Visit PayrollMate.Com for a free trial today.
Chicago, IL (PRWEB) January 17, 2012
Real Business Solutions, Inc., a leading provider of payroll check writing software, has released a new version of its 2012 Payroll Mate system. The updated payroll calculator shipping with the software reflects the latest changes in FICA, federal and state withholding calculations for tax year 2012.
A free payroll system trial can be downloaded from Payroll Mate's website by visiting http://www.payrollmate.com/.
The employee tax rate for social security payroll tax is 4.2 percent on wages paid and tips received before Thursday, March 1, 2012. The employee tax rate for social security increases to 6.2% on wages paid and tips received after Wednesday, February 29, 2012. The employer payroll tax rate for social security remains unchanged at 6.2 percent. The social security wage base limit is $110,100. The Medicare tax rate is 1.45 percent each for the employee and employer, unchanged from tax year 2011. There is no wage base limit for Medicare tax. US Employers should implement the 4.2% employee social security tax rate as soon as possible, but not later than January 31, 2012. After implementing the 4.2% rate, employers should make an offsetting adjustment in a subsequent pay period to correct any over-withholding of social security tax as soon as possible, but not later than March 31, 2012.Social security and Medicare taxes apply to the wages of household workers you pay $1,800 or more in cash or an equivalent form of compensation. Social security and Medicare taxes apply to election workers who are paid $1,500 or more in cash or an equivalent form of compensation.
Payroll Mate is state-of-the-art payroll preparation system, which offers fully-automated payroll processing functions. Below is a summary of the features offered by Payroll Mate:
- Exports Payroll Data to QuickBooks software (can be used as QuickBooks Payroll Software).
- Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.
- Supports the following federal payroll forms: 941, 940, 944, W-2, W-3.
- Supports California DE 9 , DE 9C, Texas C-3 , Texas C-4, New York NYS-45, IL 941 and IL UI-3/40.
- Automatically calculates federal payroll tax and state payroll tax withholding.
- Supports different types of pay periods.
- Supports customizable income, tax and deductions categories.
- Supports income per mile and per piece.
- Supports fringe benefits.
- Generates comprehensive payroll reports.
- Handles payroll deductions.
- Exports payroll reports to Excel, CSV and PDF.
- FREE Payroll software demo helps businesses evaluate Payroll Mate before purchasing.
- Prints on Laser and Inkjet checks.
- Prints on preprinted red scannable W2 forms and W3 forms.
- Free updates during the tax year.
- One step backup and restore.
- Runs over a network.
- Supports payroll direct deposit.
- Ability to print MICR checks on blank check stock.
Give the payroll check writing software from PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit payroll software page.
About Real Business Solutions:
Established in 2003, Real Business Solutions is an industry leader in providing small business payroll software, 1099 software and W2 tax software solutions for 2012, 2011, 2010 and before. Real Business Solutions products are used by thousands of businesses, tax professionals, non-profit organization, and government agencies all across America. Real Business Solutions was founded in Illinois in 2003. The Company's mission has been to provide powerful and great value software solutions coupled with high quality customer service. Through this website small businesses and accounting professionals can find and download software to manage payroll, report payroll taxes, print W2 Forms, Print 1099 Forms, eFile 1099, electronically file W2 forms, print checks and prepare payroll forms like 941, 940, 944, W-2, W-3, California DE-6 , California DE-7 , Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40.