Payroll Tax Rates and Limits:

  Social Security:

    Wage Limit - $132,900

    Current Rate - 6.2%


  Medicare:

    No Wage Limit

    Current Rate - 1.45%


Pension Plan Contributions:

  401(k):

    Max Contribution - $19,500

    Catch-up Contribution - $6,500


  Roth IRA:

    Max Contribution - $6,000

    Catch-up Contribution - $1,000

    Income Limit:

        Single:        below $ 139,000

        Married :   below $ 206,000 


Auto Mileage:

    Business -  57.5 cents per mile

    Medical -   17 cents per mile

    Charity -    14 cents per mile


Brager Tax Law Blog

2020 Rates and Limits

Let us keep you informed!

O'Fria & Company, P.C. has over 50 years of experience in providing professional advice in accounting, auditing, tax and management services. We are dedicated to offering the best possible solutions to complex financial and tax management needs. The vast knowledge and expertise of the company's personnel allows them to quickly analyze many situations that confront the client. O'Fria and Company has assisted small growing  businesses to evolve into multi-million dollar corporations. We  believe each client's situation is unique and therefore tailor our  services accordingly. We make one commitment to each and every one of our clients... to provide quality and personalized service geared to ensure their current financial stability and optimum financial future.

January 21, 2020 

4th Quarter Sales Tax


January 31, 2020  

1st Quarter Payroll Taxes


 March 15, 2020 

Partnerships and "S" Corporations filings 


April 15, 2020

 "C" Corporations, Individuals, and FBAR filings


April 21, 2020

1st Quarter Sales Taxes




O'FRIA & COMPANY, P.C.

Certified Public Accountants

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