2012 Michigan Tax Rate Repealed

by admin 12. January 2012 16:15

Withholding rate unchanged for Michigan workers after Oct. 1, 2011

The withholding Rate reduction scheduled to take place on Oct. 1, 2011, was repealed by Public Act 38 of 2011. Therefore, the income tax rate will remain 4.35% and withholding tables will remain unchanged.

The Persoanal Exemption Amount increased to $3,700.

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new Michigan 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-Michigan-2012.asp

  • The old Michigan Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-Michigan-2011.asp

 

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business news

2012 Maine Tax Rate Changed

by admin 5. January 2012 09:41

Paychecks changed for Maine workers from Jan. 1, 2012

The withholding allowances for employee claims is $2,850 which is unchanged during year 2012. The  The Maine income tax rates range from 2% to 8.5% and are levied on Maine residents’ income and non-residents’ income from Maine sources.

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new Maine 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-Maine-2012.asp

  • The old Maine Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-Maine-2011.asp

 

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ezPaycheck

2012 Kentucky increased the Standard Deduction Rate

by admin 5. January 2012 09:12

Paychecks slightly changed for Kentucky workers from Jan. 1, 2012

 

Kentucky withholding tax rate keeps unchanged for the Year 2012. However, the Standard Deduction rate increased from $2,210 in Year 2011 to $2,290 in Year 2012. Kentucky income tax rates range from 2% to 6% and are levied on Kentucky residents’ income and non-residents’ income from Kentucky sources.

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new Kentucky 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-Kentucky-2012.asp

  • The old Kentucky Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-Kentucky-2011.asp

 

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2012 Indiana County Tax Rate Changed

by admin 5. January 2012 08:16

Paychecks changed for partial Indiana workers from Dec. 1, 2011

 

State of Indiana published the changes of county tax for resident and non-resident on Dec 1, 2011.  The employee deduction is $1,000 and each qualified dependent deduction is $1,500 which are unchanged. Carroll County resident tax rate changes to 0.015039; Hendricks County non-resident tax rate changes to 0.005; Jasper County resident tax rate changes to 0.03114; Martin County resident tax rate changes to 0.015; Tipton County non-resident tax rate changes to 0.0158. All the other county tax rate keeps unchanged. 

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new Indiana 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-Indiana-2012.asp

  • The old Indiana Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-Indiana-2011.asp

 

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2012 District of Columbia Tax Rate Changed

by admin 4. January 2012 11:51

Paychecks changed for District of Columbia workers from Jan. 1, 2012

 

District of Columbia withholding allowances for the Year 2012 will be $1,675 per witholding allowance. The new tax rate will not differentiate the single filer, married filer, and partner file jointly.  District of Columbia income tax rates range from 4% to 8.95% and are levied on District of Columbia residents’ income and non-residents’ income from District of Columbia sources.

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new District of Columbia 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-DistrictofColumbia-2012.asp

  • The old District of Columbia Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-DistrictofColumbia-2011.asp

 

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2012 Delaware State Tax Rate Drops

by admin 4. January 2012 09:20

Paychecks changed for Delaware workers from Jan. 1, 2012

 

Delaware tax rate for income over $60,000 drops to 6.75% for tax years 2012 and 2013, and drops to 5.95% in 2014. Delaware income tax rates range changed from 2.2% to 6.75% and are levied on Delaware residents’ income and non-residents’ income from Delaware sources.  

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new State of Delaware 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-delaware-2012.asp

  • The old Delaware State Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-delaware-2011.asp

 

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2012 California State Income Tax Tables Changed

by admin 4. January 2012 08:39

Paychecks changed for California workers from Jan. 1, 2012

 

Effective Jan 1, 2012, California has increased low income exemption to $12,527 for Single, Married with 1 or 0 dependent annaully and $25,054 for Married with 2 or more dependents. Annual stantard deduction increased to $3,769 for Single and $7,538 for Married with 2 or more dependents. California income tax rates range changed from 1.1% to 11.33% and are levied on California residents’ income and non-residents’ income from California sources.

EzPayCheck payroll software includes this changes in its 2012 version.

***********

  • The new State of California 2012 Withholding Tables (Effective Jan 1, 2012) is available at:

http://www.halfpricesoft.com/2012/taxrate-california-2012.asp

  • The old California State Tax Tables can be found at:

http://www.halfpricesoft.com/2011/taxrate-California-2011.asp

 

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U.S. States With No Income Tax

by admin 29. November 2011 09:48

State income tax is imposed at a fixed or graduated rate on the taxable income of individuals, corporations, and certain estates and trusts. The rates vary by state.

Followings are the US states with no income tax.

  • Alaska
  • Florida
  • Nevada
  • New Hampshire 
  • South Dakota 
  • Texas 
  • Tennessee
  • Washington
  • Wyoming
  • Related Links

  • State Income Tax Tables
  • Federal Income Tax Tables
  • Tags: , , ,

    small business 101

    What Is Social Security Tax?

    by admin 31. August 2011 10:32

    The Social Security tax is a payroll tax that was started by the United States Government in the 1930s. This tax is imposed upon working people and their employers.

     

    For 2011, the maximum taxable earnings amount for Social Security is $106,800. The Social Security tax (OASDI) rate for wages paid in 2011 is 4.2 percent for employees and 6.2 percent for employers. 

     

    For example, an individual with wages equal to or more than $106,800 would contribute $4,485.60 to Social Security in 2011.  The employer would contribute $6,621.60.

     

    Related Link:

     

    Federal Income tax Table

    http://www.halfpricesoft.com/federal_income_tax_2011.asp

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    Payroll taxes | small business 101

    Pay More Social Security Tax in Year 2012? IRS Proposed Social Security Wage Base Increases

    by admin 31. August 2011 07:56

    The Social Security Administration has released the proposed figures for the increase in the wage base for taxation for 2012 and projected some figures for the years up to 2015.

     

    The Social Security wage base, now at $106,800, is projected to increase to $110,700 in 2012, according to the annual report of the Social Security Board of Trustees. Also – in 2012, the temporary 2% reduction in the Social Security withholding tax will expire.

     

    This will increase the social security tax paid by high wage earners from $4,485.60 (in Year 2011) to $6,863 (in Year 2012).

     

    Future wage bases have been projected for the years up to 2015 as well:  for 2013, the base is projected at $113,100; for 2014, $117,600; and for 2015, $122,700.

     

    Related link:

     

    Current federal income tax table:

    http://www.halfpricesoft.com/federal_income_tax_2011.asp

     

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    business news

    2011 Connecticut State Income Tax Table Change

    by admin 20. May 2011 02:48

     

    Paychecks take a double hit from income tax hike starting Aug. 1

     

    Many Connecticut wage earners will notice their paychecks shrinking faster than anticipated starting this August, when the Department of Revenue Services begins implementing the new $875 million state income tax increase.

    That's because the tax hike, which adds three new tax rates, reduces a property tax credit and adds an earned income credit for poor families, is retroactive to Jan. 1, but won't be drawn from paychecks until August.

    That means the state's tax agency, which released new withholding tables this week, has five months to collect 12 months' worth of tax obligations. For the 22 weeks between Aug. 1 and Dec. 31, the additional withholding will be about 2.4 times the increase that will be applied starting in January 2012.

    Source: http://www.ctmirror.org/story/12652/state-income-tax-hike-hits-paychecks-august

    ***********

    • The new State of Connecticut 2011 Withholding Tables (Effective Auguest 1, 2011) is available at:

    http://www.halfpricesoft.com/2011/taxrate-Connecticut-2011.asp

    • The old Connecticut State Tax Tables can be found at:

    http://www.halfpricesoft.com/2011/taxrate-Connecticut-2011-Before-Aug.asp

     

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    How I Paid Only 1% of My Income in Federal Income Tax

    by admin 26. April 2011 02:23

    I would like to recommend this article. It explains why rich people can avoid the taxes without high-priced lawyers under our current tax system.

    How I Paid Only 1% of My Income in Federal Income Tax

    http://www.huffingtonpost.com/eric-schoenberg/how-i-paid-1-of-my-income_b_852948.html

    While the Republicans talk about the "shared sacrifices" necessary to close our government's budget deficit, their plan imposes pain mostly on the sick, the elderly, and the poor. Asking the rich to sacrifice by paying higher tax rates surely pales in comparison. I believe that having wealthy investors pay taxes at the same rate as middle-class workers would be an important step towards making sure that we all contribute to putting our fiscal house in order.

    I agree.

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    Payroll taxes

    Form 941 due date

    by admin 12. April 2011 10:22

    When To File Form 941, Employer's Quarterly Federal Tax Form

    Your Form 941 is due by the last day of the month that follows the end of the quarter.

    1. First Quarter:  January, February, March 

    Quarter Ends: March 31

    Form 941 is due: April 30

     

    2. Second Quarter:  April, May, June 

    Quarter Ends: June 30

    Form 941 is due: July 31

     

    3. Third Quarter:  July, August, September

    Quarter Ends: September 30

    Form 941 is due: October 31

     

    4. Fourth Quarter:  October, November, December

    Quarter Ends: December 31

    Form 941 is due: January 31

    Top 10 US Corporate Tax Avoiders Named on Senate Floor

    by admin 5. April 2011 17:32

    Can you believe halfpricesoft.com paid more taxes than ExxonMobil, Bank of American and GE? Read this article.

    Despite complaints about the U.S.'s burdensome 35% corporate tax rate, two-thirds of American corporations pay no taxes in a given year. In a speech last week on the Senate floor, Senator Bernie Sanders of Vermont called out the top 10 corporate tax avoiders:

    Among those actually getting money back from the Feds:

    • ExxonMobil made $19 billion in profits in 2009, paid no federal income taxes, received a $156 million rebate
    • Bank of America received a $1.9 billion IRS refund despite $4.4 billion of profits
    • General Electric had $26 billion in profits, and $4.1 billion refund (GE made it onto another top 10 list of top corporate lobbyists in 2010, spending $39 million)
    • Chevron nabbed a $19 million refund after making $10 billion in profits
    • ....
    Source:
    http://www.care2.com/causes/politics/blog/top-10-us-corporate-tax-avoiders-named-on-senate-floor/

     

    What Is New Of Year 2011 Form 941?

    by admin 15. March 2011 08:20

    Form 941 (Year 2011) - Employer’s QUARTERLY Federal Tax Return

    What’s New

    Social security and Medicare tax 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 Medicare tax rate is 1.45% each for employers and employees.

    Do not withhold or pay social security tax after an employee reaches $106,800 in social security wages for the year. There is no limit on the amount of wages subject to Medicare tax.

    Section 3121(q) Notice and Demand - Tax due on unreported tips.  A new line has been added to Form 941 for reporting social security and Medicare taxes on unreported tips. An employer now reports the amount of the taxes shown on the Section 3121(q) Notice and Demand on line 5e of the employer’s Form 941 for the calendar quarter in which notice and demand is made. Previously, a section 3121(q) liability was reported on the line for “Current quarter’s adjustments for tips and group-term life insurance.”

    Qualified employer’s social security tax exemption expired.  The qualified employer’s exemption for their share (6.2%) of social security tax on wages/tips paid to qualified employees expired on December 31, 2010.

    COBRA premium assistance credit.  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. See COBRA Premium Assistance Payments on page 7.

    Advance payment of earned income credit (EIC).  The option of receiving advance payroll payments of EIC is no longer available after December 31, 2010. Individuals eligible for EIC in 2011 can still claim the credit when they file their federal income tax return. Individuals who received advance payments of EIC in 2010 must file a 2010 federal income tax return.

    Federal tax deposits must be made by electronic funds transfer. Beginning January 1, 2011, you must use electronic funds transfer to make all federal tax deposits (such as deposits of employment tax, excise tax, and corporate income tax). Forms 8109 and 8109-B, Federal Tax Deposit Coupon, cannot be used after December 31, 2010. Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make deposits on your behalf. Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. EFTPS is a free service provided by the Department of Treasury. Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee.

    For more information on making federal tax deposits, see section 11 of Pub. 15 (Circular E), Employer’s Tax Guide (for use in 2011). To get more information about EFTPS or to enroll in EFTPS, visit www.eftps.gov or call 1-800-555-4477. Additional information about EFTPS is also available in Publication 966, The Secure Way to Pay Your Federal Taxes.

    Resources:

    Form 941 Instructions
    http://www.irs.gov/pub/irs-pdf/i941.pdf

    publication 15
    http://www.irs.gov/pub/irs-pdf/p15.pdf

     

    Basic Information about Form 941

    http://www.halfpricesoft.com/business-blog/post/2011/03/14/Form-941-Employers-Quarterly-Federal-Tax-Form.aspx

     

    Halfpricesoft has released the new version of ezPaycheck payroll software on latest 941 form (Year 2011).  ezPaycheck is the easy-to-use and affordable payroll software for small business and non-accountants. ezPaycheck calculates payroll taxes automatically and supports check printing feature, forms 941, 940, W2 and W3.

     

    To learn more about ezPaycheck, please visit: http://www.halfpricesoft.com/index.asp

     

    Or check the video ezPaycheck Made Your Payroll an Easy Job
    http://www.youtube.com/watch?v=JISurtSXoZ0

     

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    Form 941 - Employer's Quarterly Federal Tax Form

    by admin 14. March 2011 16:33

    Following is the basic information about Form 941 - Employer's Quarterly Federal Tax Form. More information can be found from IRS site.

     

    What is form 941:

     

    Form 941- Employer's Quarterly Federal Tax Form is the form used by employers to report employment taxes , withholding amounts, deposit amounts, and amounts due to the IRS. 

     

    Who Must File Form 941?

     

    Use Form 941 to report the following amounts.

    ·         Wages you have paid.

    ·         Tips your employees have received.

    ·         Federal income tax you withheld.

    ·         Both the employer's and the employee's share of social security and Medicare taxes.

    ·         Current quarter's adjustments to social security and Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.

    ·         Advance earned income credit (EIC) payments.

    ·         Credit for COBRA premium assistance payments.

    ·         Exemption for qualified employer's share of social security tax on wages/tips paid to qualified employees.


    Do not use the Form 941 to report backup withholding or income tax withholding on nonpayroll payments such as pensions, annuities, and gambling winnings. Report these types of withholding on Form 945, Annual Return of Withheld Federal Income Tax.

     

    After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed below applies.

     

    Exceptions

    Special rules apply to some employers.

    • Seasonal employers do not have to file a Form 941 for quarters in which they have no tax liability because they have paid no wages. To tell the IRS that you will not file a return for one or more quarters during the year, check the box on line 19 every quarter you file Form 941. See section 12 of Pub. 15 (Circular E) for more information.
    • Employers of household employees do not usually file Form 941. See Pub. 926, Household Employer's Tax Guide, and Schedule H (Form 1040), Household Employment Taxes, for more information. 
    • Employers of farm employees do not usually file Form 941. See Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, and Pub. 51 (Circular A), Agricultural Employer's Tax Guide.

     

    When To File Form 941

    Your Form 941 is due by the last day of the month that follows the end of the quarter.

    1. First Quarter:  January, February, March 

    Quarter Ends: March 31

    Form 941 is due: April 30

     

    2. Second Quarter:  April, May, June 

    Quarter Ends: June 30

    Form 941 is due: July 31

     

    3. Third Quarter:  July, August, September

    Quarter Ends: September 30

    Form 941 is due: October 31

     

    4. Fourth Quarter:  October, November, December

    Quarter Ends: December 31

    Form 941 is due: January 31

     

    Halfpricesoft has released the new version of ezPaycheck payroll software on latest 941 form (Year 2011).  ezPaycheck is the easy-to-use and affordable payroll software for small business and non-accountants. ezPaycheck calculates payroll taxes automatically and supports check printing feature, forms 941, 940, W2 and W3.

     

    To learn more about ezPaycheck, please visit: http://www.halfpricesoft.com/index.asp

     

    Or check the video ezPaycheck Made Your Payroll an Easy Job
    http://www.youtube.com/watch?v=JISurtSXoZ0

     

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    Tax cut deal: 51 million will take home less

    by admin 12. January 2011 16:47

    Can you believe it 51 million will take home less not more after Year 2011 tax cut?

    NEW YORK (CNNMoney.com) -- Despite a sweeping tax cut deal that is supposed to keep everyone whole financially, if not better off, 51 million households will face a higher tax bill or a lower refund compared with this year.

    The main culprit: a new payroll tax break that will not be as generous for many low- and middle-income households as the tax cut it is replacing.

    Here's why they won't get as much tax relief in 2011: Making Work Pay was worth $400 for individuals making $75,000 or less or $800 per couple making $150,000 or less. 

    To get that much under the payroll tax break, one will need to earn at least $20,000 ($40,000 for couples). That's because the payroll tax break will amount to 2% of a worker's pay.

    Source: http://money.cnn.com/2010/12/15/news/economy/payroll_tax_holiday/index.htm

    By Jeanne Sahadi

    *****

    • Year 2011 Federal Tax Tables

    http://www.halfpricesoft.com/Federal_income_tax_2011.asp

    • FAQs on Year 2011 Tax Cut

    http://www.halfpricesoft.com/business-blog/post/2010/12/30/QA-on-Year-2011-Payroll-Tax-Cut.aspx

    Tags: , , , ,

    Payroll taxes

    How to convert form 1099's and W2's into PDF format files?

    by admin 11. December 2010 08:44

    How to convert W2 1099 forms into PDF format files?

    How to convert 1099 forms into PDF format files?

    Step 1: Start ezW2 software

    Step 2: Click the top menu “Current Company->Form 1099” to open 1099 Edit forms.

    Step 3: Enter 1099 information then click the button Print 1099 Form to open print option screen.

    Step 4: If you want to generate the PDF format files, you can check the options and click the button “Print to PDF”.

    - You can generate the  PDF file for just one 1099 form or multiple forms

    - You can generate the PDF file for one recipient or multiple recipients.

    - You can specify the file path after you click the “Print to PDF” button.

    - The forms for one recipient will be saved into one file with file name like firstname_lastname1099.pdf, which you can email to your recipient later.

    - ezW2 can generate the PDF file for Form 1099-misc copy 1, 2, B and C. 

    convert 1099 forms to PDF file

     

     

    How to convert W-2 forms into PDF format files?

    Step 1: Start ezW2 software

    Step 2: Click the top menu “Current Company->Form W-2” to open W-2 Edit forms.

    Step 3: Enter W2 information then click the button Print W2 Form to open print option screen.

    Step 4: If you want to generate the PDF format files, you can check the options and click the button “Print to PDF”.

    - You can generate the  PDF file for just one W2 form or multiple forms

    - You can generate the PDF file for one recipient or multiple recipients.

    - You can specify the file path after you click the “Print to PDF” button.

    - The forms for one recipient will be saved into one file with file name like firstname_lastname1099.pdf, which you can email to your recipient later.

    - ezW2 can generate the PDF file for Form W-2 copy 1, 2, B, C and D.

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

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    How to Prepare Form 1099-misc yourself

    by admin 9. December 2010 02:12

    As business owner, if you hire contractors, you need to furnish each contractor a completed Form 1099 by Jan 31. You also need file 1099-misc Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U.S. Information Returns, with the IRS by Feb 28.

     

    Are you headache of the tax reporting now? For this tax season, you can take benefits from the features of ezW2, the easy-to-use 1099 & W2 printing software, which is trusted by thousands of users.

     

    ezW2 1099 W2 software was specifically engineered with non-accountant business owners in mind. Its intuitive interfaces allow the user to get started on filing and printing Forms W2, W3, 1099 and 1096 without the long learning curve typically associated with financial software.

     

    Followings are the 5 simple steps to printing form 1099.

     

    Step 1: Download and install ezW2.

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

    You can download this 1099 W2 software for FREE. No registration needed and no obligation. You can follow the step by step online instructions to finish the installation in minutes.

     

    Step 2: Set up company information for 1099 reporting

    You can access this screen by clicking the top menu “Current Company->Company”.

    You need to enter the general company information for w2 and 1099 forms, such as Company Name, Address, Tax ID and others.

    ezW2: filing 1099 company setup

     

    Step 3: Set up 1096 information

    You can access this screen by clicking the top menu “Current Company->1096 information”.

    You need to enter the filer name and contact information here. This information will be displayed on both forms 1099-misc and 1096.

     

    Step 4: Add 1099 contractors

    You can access contractor by clicking the top menu “Current Company->1099 Contractor list”. You can add a new employee or edit or delete an existing one easily by clicking the link on this form.

    You can also import contractor information quickly by using 1099 import form. You can access this import form by clicking the top menu “Current Company->Import 1099”.

     

    Step 5: Enter 1099 information and print 1099 forms

    You can access this 1099 editing screen by clicking the top menu “Current Company->Form 1099”.

    - The payer information will be filled automatically.

    - Once you select the contractor from the contractor list, the recipient information will be filled automatically.

    - Fill in the boxes on the 1099 Form.

    - Click the Question icon or the instructions link to get help.

    - Click the 'save' button to save the 1099 information.

    - Click the 'Print 1099 Forms' button to print the different 1099 Copies for this recipient. ezW2 can print forms 1099-misc copy A, B, C, 1 and 2

    - Click the 'Print Instructions' button to print 1099 instructions.

     

    Note: 

    1. Form 1096 will be generate automatically based on form 1099 information
    2. ezW2 allows user to set up unlimited companies with one flat rate. So if you have multiple companies or you are an accountant, you can add new company by clicking top menu “Company Management->New company”

     

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    Limited Time Special Offer of 2010 Small Business Payroll Software

    by admin 2. November 2010 10:10

     

    The special offers of ezPaycheck small business payroll software start today. It will end on Nov 30, 2010.

    If user like to purchase ezPaycheck 2010 version, you can get 33% off the regular price.

    The regular price is: $89.

    The promotion price is: $59.

    If user like to purchase ezPaycheck 2010 + ezPaycheck 2011 combo package, they can even save more.

    The regular price is: $148

    The promotion price is: $90

    More information can be found at:

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

    California Important Payroll Tax Changes in 2011

    by admin 1. November 2010 14:55

    Change to Quarterly Reporting

    Starting with the first quarter of 2011, employers will begin filing new:

    • Quarterly Contribution Return and Report of Wages (DE 9)
    • Quarterly Contribution Return and Report of Wages (Continuation) (DE 9C).

    For more information about 2011 payroll tax changes, please review the 2011 Payroll Tax Reporting Changes FAQs.

    What reporting changes are taking place in 2011?

    Effective January 1, 2011, employers will report total subject wages, Unemployment Insurance (UI) and Disability Insurance (DI) taxable wages and contributions, by filing a New Quarterly Contribution Return and Report of Wages (DE 9) quarterly instead of annually.

    Employers will continue to report employee wages and personal income tax withheld quarterly on the New Quarterly Contribution Return and Report of Wages (Continuation) (DE 9C).

    These forms will replace the Annual Reconciliation Statement (DE 7) and the Quarterly Wage and Withholding Report (DE 6).

    NOTE: Years 2010 and prior, employers will file the DE 7 and DE 6.

    How will changing from annual reconciliation to quarterly reporting impact employers?

    The new quarterly reporting process will allow the Employment Development Department (EDD) to identify overpayments sooner, which will result in faster refunds, as well as allow us to more quickly identify potential delinquencies.

    Will employers continue to use the Payroll Tax Deposit (DE 88) coupon to make payments?

    Yes, employers are still required to pay their contributions with the DE 88. Deposit due dates will not be affected by this change. In spring 2011, employers will have more options available to electronically file returns, and make deposits and payments on outstanding liabilities. Watch for additional information as it becomes available on our expanded e-Services for Business.

    What happens if a mistake has been made on the DE 7 or the DE 6? How do we correct the DE 9 or DE 9C?

    For years prior to 2011, employers will file a DE 7 and DE 6, therefore, any adjustments to either form would be done by filing a Tax and Wage Adjustment Form (DE 678).

    Corrections to the DE 9 or DE 9C can be made using the Quarterly Contribution and Wage Adjustment Form (DE 9ADJ). This form will be available online.

    Where can employers obtain the new forms?

    Registered employers will receive the new forms automatically by mail. They will also be available online and at local EDD offices in December 2010. The DE 6 and DE 7 will continue to be available online for years prior to 2011.

    NOTE: The expansion of our e-Services for Business in spring of 2011 will provide multiple options to file your returns electronically as well as make deposits. Watch for additional information as it becomes available on our expanded e-Services for Business.

    Will employers have to update their software to complete these new reports?

    The EDD will work directly with payroll software companies to make sure they are aware of the new reporting requirements. Employers and their representatives need to contact their payroll software company regarding software updates.

    Employers who file alternate forms need to contact the Alternate Forms Coordinator at (916) 255-0649.

    Source: http://www.edd.ca.gov/payroll_taxes/Important_Payroll_Tax_Changes_in_2011.htm

     

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    Payroll taxes

    How to Lock Your PC Automatically When You are away from Your Desk

    by admin 29. October 2010 11:19

    Your payroll tax or check data is important, then you should keep them safe and security. However, if you don’t have the habit of locking your PC manually then I seriously advise you to turn on system auto lock feature.

    Micrsoft Windows system has password protect option in screen savers. If you have enabled this feature, the system would automatically lock itself as soon as the screen saver comes up. On resume, you will be asked for the password before you can enter.

    1) Right click on the desktop -> Personalize -> Screen Saver.

    2) If you are using Vista, check the box which says ‘On resume, display logon screen‘ or else in Windows XP this would be ‘On resume, password protect‘.

    3) Save and close. Next time you move out of your PC it will lock itself after the time you have mentioned in the screen saver settings.

     

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    HOW TO or DIY

    New York City withholding tax rate change effective Sepetember 1, 2010

    by admin 23. August 2010 10:00
    New York City withholding tax rate change

    Rate change effective September 1, 2010

    • If you have employees making more than $500,000 who are subject to New York City withholding, revised withholding tax computation rules may affect your payroll made on or after September 1, 2010. 
    • Calculate new withholding tax amounts using Publication NYS-50-T.2, Revised New York City Withholding Tax Computation Rules. 
    • A new Form IT-2104, Employee's Withholding Allowance Certificate, is also available. Employers should begin using the revised Form IT-2104 immediately.

    Just a reminder
    To avoid penalties, it's important to file and pay withholding tax on time and accurately report employee wage and withholding information.  See Publication NYS-50, Employer's Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax for more information.

    Source: http://www.tax.state.ny.us/wt/rate.htm

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    Payroll taxes

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