What Is New for 2014 Payroll Tax Rate

by admin 17. December 2013 04:19

IRS released the new early release copies of the income-tax withholding tables for 2014 on Dec 2013. Click here to see 2014 Percentage Method Tables for Income Tax Withholding. We have released the new 2014 ezPaycheck Payroll Software for the tax changes.

What's New

2014 withholding tables.  This notice includes the 2014 Percentage Method Tables for Income Tax Withholding. 

Withholding Allowance 
For 2014, the annually one withholding allowance increased to $3,950.

Social security tax 
For 2014, the employee and employer tax rate for social security is
6.2%. The social security wage base limit increases to $117,000.

Medicare Tax
The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2013. There is no wage base limit for Medicare tax.

Additional Medicare Tax Withholding
In addition to withholding Medicare tax at 1.45%, you must withhold a 
0.9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Additional Medicare Tax is only imposed on the employee. There is no employer share of Additional Medicare Tax. All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold.

Percentage Method Tables for Income Tax Withholding
You can view 2014 Federal Tax Table here

http://www.halfpricesoft.com/federal_income_tax_2014.asp

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Relateted Link

Information about 2014 ezPaycheck Software Updates

http://www.halfpricesoft.com/index.asp

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How to handle the paychecks for truck drivers

by admin 30. January 2013 08:44

EzPaycheck software is designed to simplify paycheck processing for small businesses. The 2013 version supports multiple Non-regular Wages to meet users' special needed. Here is an example:

Questions:
I can't find a payroll that will work for drivers paid by percentage. My Drivers percentage is done by the load and then the job. Some companies I pay higher percent than others but it’s all done by each load.

Answers:
EzPaycheck cannot calculate payment by percent automatically. However, the non-regular Wage item can help user handle it.

1. Start ezPaycheck payroll software, click the left menu "Company Settings->Wage Setup" to open Company Wage Setup screen.

2. Add two new payment type "Pay by Load" and "pay by job". Save the change.

3. When add a new check, enter the Pay by load amount and Pay by job amount, ezPaycheck will calculate the taxes automatically.

New users can try ezPaycheck 30 days free. No credit card needed and no obligation.

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How ezW2 software works with ezPaycheck payroll software

by admin 8. January 2013 06:15

EzPaycheck users who need more controls on W2 form printing can try ezW2 software too.

- ezW2 can print ALL W-2 forms (copy A, B, C, D, 1 and 2) and W-3 forms on plain paper. The black and white substitute forms of W-2 Copy A and W-3 are SSA-approved (Vendor ID: 1335).
- ezW2 can print W2 recipeint copies in 4-up formats. It can also print 2 red forms on the same sheet.

- ezW2 can print 1099 misc forms Copy 1, 2, B and C on white paper. IRS does not certify the substitute forms right now. You need to use the red-ink forms for 1099 MISC copy A and 1096.

- ezW2 also supports PDF and efile features.

print W2 forms How ezPaycheck works with ezW2 software

Followings are the steps to use ezPaycheck with ezW2:

1. start ezW2 software, remove employees and their W2 forms if needed. (optional)

delete employees w2 forms

2. start ezW2 software, click top menu "Import From EzPaycheck".

3. Select ezPaycheck accounts and import W2 forms or 1099 forms.

If you do not know your current ezPaycheck database file name and path, you can check this article http://www.halfpricesoft.com/payroll-software/switch-current-account.asp

 

4. Review and Edit W2/1099 forms and print them. Learn more here
http://www.halfpricesoft.com/w2-software/howto-file-print-w2-forms.asp

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To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

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IRS Revised 2013 Income Tax Tables. Employers Need to Use New Tax Tables As Soon As Possible

by admin 7. January 2013 06:39

After President Barack Obama signed the tax rate changes into law, IRS released the new updated income-tax withholding tables for 2013 on Jan 3. The revised withholding tables show the new rates in effect for 2013 and supersede the tables published on Dec 31, 2012.

 

For 2013, the employee tax rate for social security increases to 6.2%. The social security wage base limit increases to $113,700. According to IRS, Employers should implement the 2013 revised withholding tables and new Social Security tax rate as soon as possible, but no later than February 15, 2013.

 

We have updated ezPaycheck 2013 payroll software for this change.

If you are a new user, you can download ezPaycheck 2013 and try it free for 30 days at

http://www.halfpricesoft.com/payroll_software_download.asp

 

If you are ezPaycheck 2012 users, we would like to suggest you to back up your database first then download ezPaycheck 2013 update package at

http://www.halfpricesoft.com/payroll_software_update_2013.asp

 

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Main Changes of Year 2011 Payroll Tax Rate

by admin 22. April 2011 09:30

 

Followings are the main changes:

 

1) For Year 2011, the employee tax rate for social security is reduced to 4.2%. The employer tax rate for social security remains unchanged at 6.2%. (IRS asks that employers start using the new social security rate as soon as possible but not later than January 31, 2011.)

 

2) Federal payroll tax table changed

Click here to compare Year 2011 Federal tax tables and Year 2010 Federal tax tables

 

3) State table changed

IL, CO, HI, IN,ME, MD, MN, MO, NM, ND, OK, RI, VT published the new state tax tables.

 

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