Rates and Limits



2018 Annual rates

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  • Social Security Rates: 6.2%
  • Medicare Rates: 1.45% (same for Employer and Employee)
  • FUTA Taxable Wage Base: $7,000
  • FUTA Rate: 6%
  • WA Employment Security Wage Limit: $47,300
  • WA State Minimum Wage Limit: $11.50 per hour
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IRS Payroll Forms

2018 Business Mileage

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  • Business Mileage Rate*: $.545 per mile
  • *Can be used only if taxpayer owns/leases a passenger auto, van, pickup, or panel truck and up to 4 taxis used for hire on which no § 179 or depreciation was taken.
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2018 Qualified Retirement Plan Limits

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  • Pretax contributions for 401(k) and SEP plans and 403(b) annuities: $18,500
  • Workers aged 50 and over (catch-up): $6,000
  • Pretax contributions for Simple plans: $12,500
  • Workers aged 50 and over (catch-up) for Simple Plans: $3,000
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Important IRS Links & Phone Numbers