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IRS Form W-4

Form I-9 Employment Eligibility Verification

Tennessee Separation Notice*

* Within 24 hours of the time of separation, Tennessee employers are required to provide the employee with the Tennessee Separation Notice, properly executed, giving the reasons for separation.


IRS News

IRS Withholding Calculator

Updated Withholding Calculator, Form W-4 Released


Limits & Rates

COLA Increases for Dollar Limitations on Benefits and Contributions


2018 STANDARD MILEAGE RATES

Effective Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is:

     54.5 cents per mile for business miles driven.

     18 cents per mile driven for medical or moving purposes.

     14 cents per mile driven in service of charitable organizations.

     Standard Mileage Rates - Prior Years


       2018        2017   
  
Employee Limit:  401(k), 403(b), 457, SARSEP 
  Maximum Deferrals (Up to 100% of comp.)  $18,500  $18,000
  Catch-Up Contribution (Age 50 & Older)  $  6,000  $  6,000
    
Employee Limit:  SIMPLE IRA & 401(k)  
  Maximum Deferrals (Up to 100% of comp.)  $12,500  $12,500
  Catch-Up Contribution (Age 50 & Older)  $  3,000  $  3,000
  
IRA (Traditional or Roth)
  Maximum Contribution (Up to 100% of Comp.)  $  5,500  $  5,500
  Catch-Up Contribution (Age 50 & Older)  $  1,000  $  1,000
           
Participant Annual Additions Limit
  Defined Contribution Plan (Up to 100% of Comp.) $  55,000 $  54,000
  Defined Benefit Plan Dollar Limit $220,000 $215,000
 
Health Savings Account Contributions
  Single Coverage  $ 3,450  $  3,400
  Family Coverage  $ 6,900  $  6,750
  Additional Contribution (Age 55 & Older)  $ 1,000  $  1,000
  
Employer Deduction Limit (DC Plans)
  Participant Compensation (Excluding Deferrals)      25%      25%
  
Wage Calculation Limits
  Compensation Limit $275,000 $270,000
  Highly Compensated Employee (Next Year) $120,000 $120,000
  Key Employee Determination - Officer $175,000 $175,000
  Social Security Taxable Wage Base $128,400 $127,200
   
FICA Tax Rates
  Social Security Tax - Employer    6.20%    6.20%
  Social Security Tax - Employee    6.20%    6.20%
  Medicare Tax - Employer & Employee    1.45%    1.45%
  Additional Medicare Tax - Employee*    0.90%    0.90%

* Additional Medicare Tax is imposed on FICA taxable income in excess of the threshold amount, which is NOT indexed for inflation. Thresholds are $200,000 for Single, Head of Household and Qualifying Widow; $250,000 for Married Filing Jointly; and $125,000 for Married Filing Separately. The $200,000 amount is used in all cases for payroll tax withholding.


Click here for a downloadable/printable PDF version.


  
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