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Posted on: January 1, 2020
2021 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $142,800 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 56 | Moving | 16 |
| Medical | 16 | Charitable | 14 |
Pension Plans |
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| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $19,500 | Additional $6,500 |
| Simple & 408P | $13,500 | Additional $3,000 |
Health Savings Accounts |
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| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,600 | $7,200 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,750 | $5,500 |
2020 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $137,700 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 57.5 | Moving | 17 |
| Medical | 17 | Charitable | 14 |
Pension Plans |
||
| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $19,500 | Additional $6,500 |
| Simple & 408P | $13,500 | Additional $3,000 |
Health Savings Accounts |
|||
| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,550 | $7,100 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,700 |
2019 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $132,900 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 58 | Moving | 20 |
| Medical | 20 | Charitable | 14 |
Pension Plans |
||
| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $19,000 | Additional $6,000 |
| Simple & 408P | $13,000 | Additional $3,000 |
Health Savings Accounts |
|||
| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,500 | $7,000 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,700 |
2018 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $128,400 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 54.5 | Moving | 18 |
| Medical | 18 | Charitable | 14 |
Pension Plans |
||
| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $18,500 | Additional $6,000 |
| Simple & 408P | $12,500 | Additional $3,000 |
Health Savings Accounts |
|||
| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,450 | $6,900 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,650 |
2017 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $127,000 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 53.5 | Moving | 17 |
| Medical | 17 | Charitable | 14 |
Pension Plans |
||
| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $18,000 | Additional $6,000 |
| Simple & 408P | $12,500 | Additional $3,000 |
Health Savings Accounts |
|||
| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,400 | $6,750 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,600 |
2016 Facts & Figures
FICA Taxes |
|||
| Tax Type | Social Security – Wage limit of $118,500 | Medicare – No Wage limit | Medicare – Wages in excess of $200,000 |
| Employer Tax | 6.20% | 1.45% | 0% |
| Employee Tax | 6.20% | 1.45% | 0.9% |
Mileage Rates |
|||
| Cents/mile | Cents/mile | ||
| Business | 54 | Moving | 19 |
| Medical | 19 | Charitable | 14 |
Pension Plans |
||
| Plan Type | Contribution Limits | Catch-up Limit (Age 50+) |
| 401K & 403B | $18,000 | Additional $6,000 |
| Simple & 408P | $12,500 | Additional $3,000 |
Health Savings Accounts |
|||
| Plan Type | Individual Limits | Family Limits | Catch-up Limit (Age 55+) |
| HSA (Health Savings Account) | $3,350 | $6,750 | Additional $1,000 |
| FSA (Flexible Spending Account) | $2,550 |
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