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Announcing Important Change to Payroll Withholding Tables for 2011
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The employee portion of Social Security withholding tax will be 4.2% beginning January 1, 2011. The employer portion remains at 6.2%.   

 

If you use QuickBooks to process payroll checks, please download payroll updates as they become available. QuickBooks has provided detailed instructions regarding its latest payroll update. Instructions for QuickBooks Payroll Update #21102

 

After the update has been installed, check your payroll items to make sure the Social Security item is set up properly to reflect this change.  

 

Also, change your state unemployment rate to reflect the 2011 contribution rate.

 

Please contact us if you have any questions.

 

We wish you all the best in the new year.


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Each entity or individual's situation is unique and should be analyzed based upon all of the laws and regulations that exist at the time of a decision. Although we try to send current and accurate information, laws change and can be complex. The information presented in this e-mail should not be construed as legal, tax or accounting advice. You should consult with Angle, Zaebst, & Associates CPA's or other professionals familiar with your particular situation for advice concerning specific tax or other matters before making any decision.