2013 Medicare Tax Rate is 1.45%, Additional Medicare Tax Rate is 0.9% - PayrollMate.com Updates Payroll Calculator
Real Business Solutions has updated their payroll processing software to implement the employee and employer Medicare Tax Rates for 2013. Free trial download available from http://www.PayrollMate.com/ .
Chicago, IL (PRWEB) January 03, 2013
For 2013, the Medicare tax rate is 1.45% each for the employee and employer. There is no wage base limit for Medicare tax. Real Business Solutions released Payroll Mate 2013, the comprehensive payroll software with support for the latest payroll tax calculations. Payroll Mate is trusted by thousands of businesses and payroll departments nationwide.
Payroll Mate 2013 trial download is available from http://www.PayrollMate.com/.
In addition to withholding Medicare tax at 1.45%, employers must withhold a 0.9% Additional Medicare Tax from wages paid to an employee in excess of $200,000 in a calendar year. Employers are required to begin withholding Additional Medicare Tax in the pay period in which wages in excess of $200,000 are paid 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.
Payroll Mate is always one of the first payroll preparation solutions to implement payroll updates and new government regulations. 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.
Employer can download Payroll Mate trial by visiting
Below is a short list of what Payroll Mate can do:
- Automatically calculates federal payroll tax and state payroll tax withholding.
Give the payroll tax software PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit Payroll Mate payroll software page by pointing your browser to http://www.PayrollMate.com
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