2011 Payroll Software from PayrollMate.com Updates Payroll Withholding Tables to Include Changes Introduced by The Tax-cut Bill.
Payroll Mate Payroll Software makes it easy for accountants, businesses and payroll staffs to comply with the new IRS payroll tax withholding changes introduced by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
For 2011, the employee tax rate for social security is 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base limit is $106,800. In 2011, the Medicare tax rate is 1.45% 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.
All users of Payroll Mate 2011 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 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.
A free demo of the payroll software is available here:
Employer and Accountants can learn more about Payroll Mate by visiting the payroll software page.