Rates, Due Dates, & IRS Limits

Employee Social Security and Medicare		6.20% / 1.45%
Employer Social Security and Medicare		6.20% / 1.45%
Social Security Wage Limit		$147,000
Medicare Wage Limit		Unlimited
FUTA (Federal Unemployment Tax Act) taxable wage base		$7,000
FUTA rate		6.0%
FUTA maximum credit		5.4%
Minimum FUTA deposit rate		.6%
*Withhold added Medicare tax rate of .9% on wages over $200,000.

Pretax contributions for 401(k)and SEP plans		$20,500
Workers aged 50 and over (Catch-up)		$6,500
Combined employer/employee pay-in limits for all defined contribution plans		$61,000
Annual compensation limit under Sec. 401(s)(17) and Section. 404(1)		$305,000
Sec. 408(k)(3)(c) IRA, SEP or
SIMPLE plan limits		$305,000
SIMPLE pretax contribution limit		$14,000
Workers aged 50 and over (Catch-up)		$3,000

Per the IRS: File Form 1099-NEC & 1099-MISC for each person to whom you have paid during the year:

at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest at least $600 in:

rents;
services performed by someone who is not your employee;
prizes and awards;
other income payments;
medical and health care payments;
crop insurance proceeds;
cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish;
generally, the cash paid from a notional principal contract to an individual, partnership, or estate;
payments to an attorney; or
any fishing boat proceeds

Please visit IRS.gov for updated and additional information.

Employee's Withholding Allowance Certificate, including recent updates, related forms and instructions on how to file.

Form I-9 is used for verifying the identity and employment authorization of individuals hired for employment in the United States.

Provide your TIN to the person or business who is required to file an information return with the IRS to report, for example: