Welcome To NannyPay News
NannyPay News is a periodic newsletter of Essentia Software Corporation. It is intended to provide household employers and NannyPay users with information about employment issues, tax tips, NannyPay® software tips, and other items of interest in a brief, easy-to-read format.
If you have any comments or suggestions about our newsletter, please let us know by emailing us at: newsletter@essentia-soft.com. We look forward to your feedback.
NannyPay 2012, NannyPay 2012 Staff Edition, and ElderCarePay 2012 Now Available for Immediate Download!
Essentia Software Corporation is pleased to announce the availability of NannyPay 2012, NannyPay 2012 Staff Edition, and ElderCarePay 2012 for immediate download. Each application's tax tables has been updated to comply with changes in federal and state tax laws, effective 2012. Because of annual changes in the tax laws, you should not be using the 2011 editions of your software for calculating payroll transactions during 2012. Please note that the tax tables have been updated to incorporate, among other changes, the new Social Security Employee rates.
NannyPay 2012 and NannyPay 2012 Staff Edition may be downloaded by visiting us at www.nannypay.com. To download ElderCarePay 2012, please visit www.eldercarepay.com.
If your NannyPay or ElderCarePay subscription is current, you will not be required to re-register your software. If it is not current, please visit www.nannypay.com or www.eldercarepay.com and follow the "Purchase" link to renew your annual subscription.
2011 Form W-2s in Household Quantities — We Sell Them
NannyPay and ElderCarePay compatible Year 2011 W-2s and W-3s are now available for purchase in "household" quantities. Although you can buy IRS approved form W-2s and W-3s in office supply stores, you probably will not find them in quantities of less than 25 and at a reasonable cost.
Essentia Software Corporation is committed to making life just a little easier and less expensive for household employers. So, as a convenience (and savings) to our customers, you can now buy blank IRS approved, and NannyPay compatible, Form W-2s and W-3s from us, and have the forms shipped directly to your home.
Our IRS approved forms package includes everything you need for up to two employees: one Form W-2 form set, which consists of two W-2 forms; one Form W-3; and two compatible mailing envelopes. Shipping and handling is included in the price of our forms. For more information, or to order, visit our Tax Forms page.
NannyPay Tip — Closing out 2011 with NannyPay Standard Software
Closing out 2011 with NannyPay standard software. As this year ends you may be wondering about how to close your 2011 payroll records. When the calendar turns to 2012, NannyPay 2011 will automatically "lock" your 2011 payroll transactions; that is, NannyPay 2011 will not permit you to enter any transaction dated "2012" in your 2011 payroll file. This will ensure the integrity and accuracy of your 2011 records. Thereafter, you should only use NannyPay 2011 to run reports and print 2011 tax forms. To ensure your withholdings are correct in 2012, you must use NannyPay 2012 for wages paid in 2012 (see below).
You must update NannyPay 2011 standard software to complete your year-end tax chores. To assist with your year-end tasks, the latest release of the NannyPay 2011 updater is now available for immediate download. Remember, you must have the full version of NannyPay 2011 already installed on your system before installing this update. The latest release of NannyPay also permits you to print a completed Schedule H, which you may file with your federal tax return. You may also print your payroll data to IRS-approved, machine readable W-2/W-3 forms sold by Essentia Software (see below). This update also contains a revised Form W-2/W-3 report. This report is not essential, but it will conveniently summarize your payroll data for manual completion of the forms.
Make a "hard copy" of your NannyPay 2011 records. Before uninstalling NannyPay 2011 standard software we also recommend that you preserve your 2011 records by printing copies of all the reports and your individual payroll transactions ("Print Registers" under the "File" menu). Alternatively, you can archive your 2011 records by securely backing up your payroll files along with a copy of the latest release of NannyPay 2011 full installation package (so that you can read the files in the future, if necessary).
Don't uninstall NannyPay 2011 standard software right away. If you're using NannyPay 2011 standard software (not Staff Edition) and you plan to use NannyPay 2012 for wages paid in 2012, we strongly recommend that you do not uninstall NannyPay 2011 until you have completed all your 2011 tax filings and reporting (by April 17th of 2012). NannyPay 2012 standard version will not permit you to open your 2012 payroll records. It is, therefore, handy to have NannyPay 2011 and NannyPay 2012 installed side-by-side until tax time is over.
Don't forget your employee's Form W-2 and your Form W-3. In 2012, the federal government requires you to prepare and give your employee(s) a 2011 Form W-2 by January 31, 2012. By February 28, 2012, you must also file a W-3 and copies of all W-2s with the Social Security Administration. The latest release of NannyPay will permit you to print your payroll data to IRS-approved, machine-readable W-2 and W-3 forms, which may be purchased by visiting Essentia Software's web site at www.nannypay.com, or at most stationery stores or form suppliers. Please understand that we have only tested the forms we sell for NannyPay compatibility.
File your 2011 federal Schedule H by April 17, 2012. For most household employers, your 2011 Schedule H should be included with your personal federal income tax return when you file it. If you are not required to file a personal tax return, file Schedule H by itself. Be sure not to forget your state filing and reporting obligations, if any.
NannyPay Tip — Closing out 2011 with NannyPay Staff Edition and ElderCarePay Software
Closing out 2011 with NannyPay Staff Edition and ElderCarePay software. NannyPay Staff Edition and ElderCarePay maintain all your payroll records in one comprehensive file. Therefore, it's not necessary to create a new 2012 payroll transaction file. To keep your tax tables up-to-date, you must download and install NannyPay 2012 Staff Edition or ElderCarePay 2012 (see below). If you are using NannyPay Staff Edition or ElderCarePay, you may use the 2012 versions to complete your 2011 year-end tax chores. The 2012 versions of the software also contain a revised 2011 Schedule H and 2011 Form W-2/W-3's printing functionality. You must have Adobe's free, Acrobat® Reader (version 4.0 or higher) installed on your system for this feature to work. You may obtain the free Reader from www.adobe.com.
Don't forget your employee's Form W-2 and your Form W-3. In 2012, the federal government requires you to prepare and give your employee(s) a 2011 Form W-2 by January 31, 2012. By February 28, 2012 you must also file a W-3 and copies of all W-2s with the Social Security Administration. NannyPay Staff Edition 2012 and ElderCarePay 2012 will permit you to print your 2011 payroll data to IRS-approved, machine-readable W-2 and W-3 forms, which may be purchased by visiting Essentia Software's web site at www.nannypay.com, or at most stationery stores or form suppliers. Please understand that we have only tested the forms we sell for compatibility with NannyPay and ElderCarePay.
File your 2011 federal Schedule H by April 17, 2012. For most household employers, your 2011 Schedule H should be included with your personal federal income tax return when you file it. If you are not required to file a personal tax return, file Schedule H by itself. Be sure not to forget your state filing and reporting obligations, if any.
Learn About Updates and Tax Changes Immediately by Following Us on Twitter or Facebook
Twitter and Facebook give us the capability of immediately informing our customers about product updates, tax law changes, and other information relevant to household employers. It's simple and it's free. All you need to do is follow us on Twitter or "friend" us on Facebook. We look forward to hearing from you.
Remember to contact your tax professional if you have tax related questions. We, of course, are always available to answer software related questions and inquiries. E-mail Technical Support with your questions.