CHICAGO, Jan. 1, 2014 /PRNewswire/ -- Real Business Solutions (PayrollMate.com / 1-800-507-1992) reminds employers and tax professionals of the latest payroll withholding changes introduced in 2014 by the Internal Revenue Service and a number of state departments of revenue including California, New York, Maryland, Massachusetts and more. The software maker also invites small business owners to try the 2014 version of its popular Payroll Mate® software.
Free Payroll processing program trial can be downloaded from http://www.PayrollMate.com/.
For 2014, the social security tax rate is 6.2% each for the employee and employer. The social security wage base limit is $117,000. The Medicare tax rate is 1.45% each for the employee and employer. There is no wage base limit for Medicare tax. The 2014 amount for one federal withholding allowance is $3,950 (annual).IRS has also introduced new 2014 federal payroll tax withholding tables to be used by employers who do payroll by hand or use automated methods like payroll accountings software.
Payroll Mate® is everything employers need to run payroll in-house. The payroll system offers the features of high-end payroll service applications for a fraction of the price. Payroll Mate® imports and exports data to leading accounting software including QuickBooks, Quicken, Peachtree (Sage 50), Microsoft Accounting and more. Year after year, thousands of employers and accounting professionals trust Payroll Mate to do payroll and prepare payroll taxes in house.
Download free payroll software trial by visiting http://www.realtaxtools.com/
Payroll Mate software highlights:
- For $99 only, process payroll for up to 10 companies, with up to 75 employees per company for one calendar year.
- Supports fulltime employees, part-time employees and independent contractors.
- Computes employee gross pay, taxes, deductions, and net pay.
- Calculates federal income tax withholding (FIT), state income tax (SIT), local income tax, state unemployment tax (SUTA), state disability insurance (SDI) and federal unemployment tax (FUTA).
- Supports different types of pay periods including weekly, biweekly, semimonthly and monthly.
- Supports customizable payroll income, tax and deductions categories.
- Exports payroll data to Peachtree (Sage 50), QuickBooks, Quicken, Microsoft Accounting and more.
- Supports payroll vacation and sick pay accrual.
- Supports federal payroll forms and a number of state forms.
- Prints IRS 1099 and 1096 forms.
- Supports income per mile and per piece.
- Exports payroll reports to Excel, CSV and PDF.
- Prints on Laser and Inkjet checks.
- Generates comprehensive reports including payroll journal, tax liability and deposit requirement.
- Generates Direct Deposit Files.
- Prints MICR checks on blank check stock.
Give Payroll Mate software a test drive and see how easy and affordable processing payroll can be. Visit http://payroll.realtaxtools.com/ .
SOURCE Real Business Solutions