omnet solutions

Social Security Reduction 2011: Payroll Accounting Software from PayrollMate.com Updated to Help Businesses and Payroll Departments Implement Obama Payroll Tax Cut

Payroll Mate Payroll Accounting Software

Orland Park, IL (PRWEB) January 5, 2011

Real Business Solutions, Inc., a leading provider of automated payroll software has released a new version of its 2011 Payroll Mate system. The updated payroll calculator shipping with the software reflects the reduction in employee social security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. The payroll calculator also includes the latest federal and state withholding tables for tax year 2011.

Popular among small businesses and accounting professionals, Payroll Mate is always one of the first payroll processing solutions to implement tax updates and new payroll regulations. Payroll Mate is trusted by thousands of businesses nationwide. The software is currently being used by accounting firms, non-profit organizations, banks, churches, restaurants, farms, schools, and other businesses across America.

A FREE payroll software trial can be downloaded from Payroll Mate’s website by visiting http://www.payrollmate.com/.

For 2011, the employee tax rate for social security is 4.2 percent. The employer tax rate for social security remains unchanged at 6.2 percent. The 2011 social security wage base limit is $ 106,800. In 2011, the Medicare tax rate is 1.45 percent each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax. Employers should implement the 4.2% employee social security tax rate as soon as possible, but not later than January 31, 2011.

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.

# # #

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.