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
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