2012 Payroll Tax Calculator Inside Payroll Mate Software Updated with 2012 Payroll Tax Cut Changes

CHICAGO, Jan. 2, 2012 /PRNewswire/ -- Real Business Solutions (http://www.PayrollMate.com), a nationwide provider of payroll and 1099 preparation programs, is helping small businesses, accounting professionals and payroll service providers comply with the changes to the payroll tax law made in the Payroll Tax Cut Continuation Act of 2011 signed into law by President Obama on Dec. 23, 2011.

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Nearly 160 million workers will benefit from the extension of the reduced payroll tax rate that has been in effect for 2011. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through Feb. 29, 2012. This reduced Social Security withholding will have no effect on employees' future Social Security benefits.

All users of Payroll Mate 2012 will get the new payroll updates for free. The software maker is also advising small businesses that are still doing payroll by hand to start using a payroll software solution, which offers serious benefits, from increased payroll preparation efficiency to tangible cost savings.

Payroll Mate is always one of the first payroll preparation solutions to implement payroll updates and new government regulations. Year after year, thousands of businesses and accounting professionals trust Payroll Mate to do payroll and prepare payroll taxes.

Payroll Mate makes doing payroll easy, smooth, predictable, and of course affordable through a set of powerful and flexible payroll management capabilities that allow small businesses to operate smarter and save money. Below is a short list of what this payroll system can do:

• Automatically calculates federal and state payroll tax withholding.
• Supports different types of pay periods including weekly, biweekly, semimonthly and monthly.
• Supports customizable income, tax and deductions categories.
• Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.
• Supports the following payroll forms: 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.
• Can be used as QuickBooks payroll subscription alternative with the ability to export payroll data to QuickBooks software.
• Supports income per mile and per piece.
• Exports payroll reports to Excel, CSV and PDF.
• Prints on Laser and Inkjet checks.
• Prints on preprinted scannable W2 forms and W3 forms.
• Generates comprehensive reports including payroll journal, tax liability and deposit requirement.
• Generates Direct Deposit Files.
• Prints MICR checks on blank check stock.

Give the payroll tax calculator from PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit payroll tax software page.

SOURCE PayrollMate.com