Payroll Software Promotion: EzPaycheck 2013 & 2014 Combo Version at $99 only

by admin 16. October 2013 03:38

ezPaycheck payroll software speeds up payroll tax calculation, paycheck printing and year-end tax reporting. We just launched the year-end payroll software promotion for businesses who want to start computerized payroll software in Oct. New customer can now purchase ezPaycheck 2013 and 2014 combo version at just $99. The regular price of ezPaycheck 2014 is $89. Since IRS has not published the 2014 tax tables, ezPaycheck 2014 is not available right now.

Customer will get 2013 key code once the transaction completes. The 2014 update package link will be sent by email before Jan 1, 2014.

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10 Best States for Business in Year 2014

by admin 10. October 2013 05:09

The Tax Foundation’s 2014 edition of the State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare.

The 10 best states in this year’s Index are:

  1. Wyoming
  2. South Dakota
  3. Nevada
  4. Alaska
  5. Florida
  6. Washington
  7. Montana
  8. New Hampshire
  9. Utah
  10. Indiana

The full list can be found at http://taxfoundation.org/article/2014-state-business-tax-climate-index

 

 

 

 

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business news

Employment Tax Deposit Due Dates

by admin 11. September 2013 10:04

In general, you must deposit federal income tax withheld and both the employer and employee social security and Medicare taxes.

There are two deposit schedules, monthly and semi-weekly. Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. The deposit schedule you must use is based on the total tax liability you reported on Form 941 during a lookback period. See special rules for Forms 944 and 945. Schedules for depositing and reporting taxes are not the same.

You must use electronic funds transfer (EFTPS) to make all federal tax deposits.

Monthly Depositor

Under the monthly deposit schedule, deposit employment taxes on payments made during a month by the 15th day of the following month. Employers who deposit monthly should only report their deposits quarterly or annually by filing Form 941 or Form 944.

Semi-weekly Depositor

Under the semiweekly deposit schedule, deposit employment taxes for payments made on Wednesday, Thursday, and/or Friday by the following Wednesday. Deposit taxes for payments made on Saturday, Sunday, Monday, and/or Tuesday by the following Friday. Report your deposits quarterly or annually only by filing Form 941 or Form 944.

FUTA Deposits

Deposit FUTA tax by the last day of the first month that follows the end of the quarter. If the due date for making your deposit falls on a Saturday, Sunday, or legal holiday, you may make your deposit on the next business day.

If your liability for the fourth quarter (plus any undeposited amount from any earlier quarter) is over $500, deposit the entire amount by the due date of Form 940 (January 31). If it is $500 or less, you can make a deposit, pay the tax with a credit or debit card, or pay the tax with your 2011 Form 940 by January 31.

source: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Employment-Tax-Due-Dates

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EzPaycheck payroll software simplifies and automates payroll tax calculations, paycheck printing and tax form filing.

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Employment Tax Due Dates

by admin 11. September 2013 09:12

Reporting Due Dates

Generally, employers must report wages, tips and other compensation paid to an employee by filing the required form(s) to the IRS. You must also report on the taxes you deposit.

By January 31
•File Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. However, if you deposited all of the FUTA tax when due, you have 10 additional calendar days to file.
•File Form 943, Employer's Annual Federal Tax Return for Agricultural Employees if you paid wages to one or more farmworkers and the wages were subject to social security and Medicare taxes or federal income tax withholding under the $150 Test or the $2,500 Test.
•File Form 944, Employer’s Annual Federal Tax Return, for the previous calendar year instead of Form 941 if the IRS has notified you in writing to File Form 944.
•File Form 945, Annual Return of Withheld Federal Income Tax, to report any nonpayroll income tax withheld in the previous year. If you deposited all taxes when due, you have 10 additional calendar days to file. See Nonpayroll Income Tax Withholding under Reminders in Publication 15 for more information.
•File Form W-2, Wage and Tax Statement to report wages, tips and other compensation paid to an employee.

By February 28
•File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U.S. Information Returns, with the IRS. For electronically filed returns, see By March 31 below.
•File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA). For electronically filed returns, see By March 31 below.
•File paper Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, with the IRS. See section 6 of Publication 15. For electronically filed returns, see By March 31 below.

By March 31

File electronic Forms 1099 and 8027 with the IRS. File electronic Forms W-2 with the SSA. For information on reporting Form W-2 information to the SSA electronically, visit the Social Security Administration’s Employer W-3 Filing Instructions & Information web page. We have two publications about filing information returns electronically.
•Publication 1220 (PDF), Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically
•Publication 1239 (PDF), Specifications for Filing Form 8027

By April 30, July 31, October 31, and January 31
•File Form 941, Employer’s QUARTERLY Federal Tax Return, for the fourth quarter of the previous calendar year. If you timely deposited all taxes when due, you have 10 additional calendar days from January 31 to file the appropriate return

source: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Employment-Tax-Due-Dates

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EzPaycheck payroll software simplifies and automates payroll tax calculations, paycheck printing and tax form filing.

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purchase payroll software now free download payroll accounting software

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small business 101

What are Payroll Taxs

by admin 11. September 2013 08:58

Payoll taxes are the taxes that an employee pays from his earnings each pay period. Usually payroll taxes include:

- Federal Income Tax

- Social Security and Medicare Taxes

- Additional Medicare Tax (Beginning Jan 1, 2013)

- State Taxes

- Local Taxes

Calculating payroll taxes can be very time-consuming. EzPaycheck payroll software is designed for small businesses with simplicity in mind. It automates payroll tax calculation, paycheck printing and tax form filing. 30 days free trial is available for download with no risk and no obligation

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purchase payroll software now free download payroll accounting software

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small business 101

How to Calculate 2011 Federal Income Tax Manually?

by admin 29. August 2011 03:31

Some small business owners are still calculating the taxes manually. Following is the step by step guide on how to use federal tax table and do it manually.

 

For example:

 

Karen is the employee of company ABC. She lives in Arizona. Her withholding rate is married/withhold at a single rate.  She has two exemptions and no extra withholds.  She gets paid $10 per hour biweekly.  She works 64 hours for each pay period.


Followings are the steps to calculate the federal tax:
 

1. Gross pay for each paycheck:
 
For each pay period, the gross pay is $640
 
2. Deduction for each paycheck:
The standard deduction is $3700 per year (For Year 2011).
She can get total $3700*2=$7400
For each pay period the deduction is: $7400/26=$284.62
 
3. Taxable income for each paycheck
So for each paycheck, the taxable income is: 640-284.62=$355.38
 
4. Federal tax
(355.38-81.00) * 10%=274.38*10%=$27.44

 

Current Federal Income Withholding Tax table
http://www.halfpricesoft.com/federal_income_tax_2011.asp

 

Table 2 -- Biweekly Payroll Period

(a) SINGLE person (including head of household) --

If the amount of wages(after
subtracting withholding
allowances) is:

 

The amount of income tax
to withhold is:

Not over $81.00.......

 

$0

Over --

But no over --

 

 

Of excess over --

$81.00

$408.00

 ...

10%

$81.00

$408.00

$1,408.00

 ...

$32.70 plus 15%

$408.00

$1,408.00

$3,296.00

 ...

$182.70 plus 25%

$1,408.00

$3,296.00

$6,788.00

 ...

$654.70 plus 28%

$3,296.00

$6,788.00

$14,663.00

 ...

$1,632.46 plus 33%

$6,788.00

$14,663.00

...

 ...

$4,231.21 plus 35%

$14,663.00

 

EzPaycheck payroll software is designed to automate paycheck processes to reduce the time spent on running payroll. The software’s graphic interface leads users step-by-step through setting up employee information, importing data, calculating payroll—including calculation of federal, state and local taxes; deductions for Medicare, insurance and 401(k) plans; and printing paychecks.

 

Priced at just $89 per installation, ezPaycheck’s graphical interface and functions are so intuitive that even users without much computer or accounting experience can start automating payroll processes within minutes of installation. Additionally, customers can try ezPaycheck payroll software without cost or obligation for 30 days.

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purchase payroll software now free download payroll accounting software 

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