Current Tax Rate/Limits

 

Minimum Wage
 
Federal U.S. Department of Labor
FICA (Social Security) 2019 2020
Max Taxable Earnings $132,900 $137,700
Employee/Employer % 6.2%/6.2% 6.2% / 6.2%
Max Deduction $8,239.80 $8,537.40
FICA (Medicare) 2019 2020
Max Taxable Earnings No Max No Max
Employee/Employer % 1.45% 1.45%
Max Deduction No Max No Max
Plus Additional 0.9% for individuals earning over $200,000
FUTA 2019 2020
Max Taxable Earnings $7,000 $7,000
% of Taxable Earnings 6.0% 6.0%
Max Credit 5.4% 5.4%
Normal Net Tax 0.6% 0.6%
Standard Mileage Rate 2019 2020
Rate $.58 per mile $.575 per mile
Deferral Amounts 2019 2020
Max 401(k)/403(b) Elective Amount $19,000 $19,500
Catch-Up Contributions (50+) $6,000 $6,500
Max HSA Contribution Single $3,500 $3,550
Max HSA Contribution Family $7,000 $7,100
HSA Catch-up Contribution Limit $1,000 $1,000
Health FSA Contribution $2,700 $2,750
Dependent Care FSA Contribution $5,000 $5,000
SIMPLE Plan Employee Amount $13,000 $13,500
SIMPLE Catch-Up Contributions (50+) $3,000 $3,000
Common Phone Numbers and Websites
IRS www.irs.gov 800-829-4933
EFTPS www.eftps.gov 800-555-8778
SSA www.ssa.gov 800-772-1213