2013 Tax Brackets Adjusted, PayrollMate.com Updates Tax Calculator

January 20, 2013

Real Business Solutions, makers of Payroll Mate payroll software, updated 2013 tax calculator to reflect changes introduced by the American Taxpayer Relief Act of 2012. Free trial of Payroll Mate is available from http://www.PayrollMate.com/ .

Chicago, IL (PRWEB) January 20, 2013

The IRS is giving employers until February 15, 2013 to apply the new tax brackets. Payroll Mate payroll software by Real Business Solutions (PayrollMate.com) is helping US companies and payroll processors implement the 2013 tax tables including the new employee social security tax rate of 6.2%. 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.

Employers can download risk-free trial of Payroll Mate payroll software by visiting http://www.PayrollMate.com/ . Users can buy the software and receive it instantly.

The 2013 tax brackets for single employees are as follows: The 2013 tax brackets for single employees are as follows: 10% from $0 to $8,925, 15% from $8,925 to $36,250, 25% from $36,250 to $87,850, 28% from $87,850 to $183,250, 33% from $183,250 to $398,350, 35% from $398,350 to $400,000 and 39.6% from $400,000 and up.

The 2013 payroll tax brackets for married employees are as follows: 10% from $0 to $17,850, 15% from $17,850 to $72,500, 25% from $72,500 to $146,400, 28% from $146,400 to $223,050, 33% from $203,150 to $398,350, 35% from $398,350 to $450,000, 39.6% from $450,000 and up.

Payroll Mate is ideal for small and mid-size businesses including restaurants, professional services, physicians, attorneys, retail stores, dentists and insurance agents. Payroll Mate is also ideal for non-profits such as churches, charities and legal aid societies.

Payroll Mate highlights:

  • Automatically calculates federal and state payroll 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 payroll vacation and sick pay accrual.
  • Can be used as QuickBooks payroll alternative with the ability to export payroll data to QuickBooks software.
  • Supports the following payroll forms: 941, 940, 944, W-2, W-3, California DE-9, California DE-9C, Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40.
  • Supports 1099 payroll and employees.
  • Supports income per mile and per piece.
  • Prints IRS 1099 and 1096 forms.
  • Supports 1099 employees and 1099 payroll.
  • Exports payroll reports to Excel, CSV and PDF.
  • Prints on Laser and Inkjet checks.
  • Prints on preprinted scannable W2 / W3 forms and prints on regular white paper.
  • Generates comprehensive reports including payroll journal, tax liability and deposit requirement.
  • Generates ACH Direct Deposit Files (Payroll Direct Deposit Support).
  • Supports fringe benefits.
  • Free updates during the tax year.
  • Runs over a network.
  • Prints MICR checks on blank check stock.

Give the payroll software from PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit http://www.PayrollMate.com/ .

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/Tax-Brackets/prweb10343188.htm

Source: prweb

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