For 2013, Employee Social Security Tax Rate Increases to 6.2% - PayrollMate.com Updates Tax Calculator
(PR Web Via Acquire Media NewsEdge) Chicago, IL (PRWEB) January 01, 2013
For 2013, the employee tax rate for social security increases to 6.2%. The social security wage base limit increases to $113,700. Payroll software developer, Real Business Solutions released an updated withholding calculator with support for new social security tax calculations. The software maker invites tax professionals and payroll departments to try the 2013 version of Payroll Mate software by visiting http://www.PayrollMate.com/.
According to the IRS, employers should implement the 6.2% employee social security tax rate as soon as possible, but not later than February 15, 2013. After implementing the new 6.2% rate, employers should make an adjustment in a subsequent pay period to correct any underwithholding of social security tax as soon as possible, but not later than March 31, 2013.
Below is a summary of the features offered by Payroll Mate:
• 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 the following federal payroll forms: 941, 940, 944, W-2, W-3.
• Payroll forms software with support for California DE 9 , DE 9C, Texas C-3 , Texas C-4, New York NYS-45, IL 941 and IL UI-3/40.
• Supports fringe benefits.
• Supports payroll vacation accrual and sick pay accrual.
• Exports Payroll Data to QuickBooks software.
• Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.
• Generates comprehensive payroll reports.
• Supports non-employee (1099 contractor payroll) with the ability to print 1099 MISC and 1096 tax forms.
• Handles payroll deductions.
• Exports payroll reports to Excel, CSV and PDF.
• 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 2013 payroll tax calculator from PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit Payroll Mate payroll software page by pointing your browser to http://www.PayrollMate.com
Read the full story at http://www.prweb.com/releases/2013/Social-Security-Tax/prweb10283927.htm
(c) 2013 PRWEB.COM Newswire
[ Back To Technology News's Homepage ]