Payroll & Benefits Tax Guide
PAYROLL TAX GUIDE current as of January 10, 2019
2019
Qualified Retirement Plans
Health Savings Accounts (HSAs) Annual Contribution Limits 2019
2019
2018
2018
Individual
$ 3,500 $ 3,450 $ 7,000 $ 6,900 $ 1,000 $ 1,000
Maximum elective deferral to retirement plans [e.g., 401(k), 403(b)]
$ 19,000 $ 18,500
Family
Maximum elective deferral to SIMPLE IRAs
$ 13,000 $ 12,500
Catch-up Contributions
Employers must report contributions to an employee’s HSA on Form W-2, Box 12, Code W
Maximum elective deferral to 457 plans of exempt employers
$ 19,000 $ 18,500
Limit on annual additions to defined contribution plans Minimum mandatory SEP plan participation
$ 56,000 $ 55,000
Dependent Care Benefits
$
600 $
600
2019
2018
Maximum annual compensation taken into account for contributions
$ 280,000 $ 275,000
Married
$ 5,000 $ 5,000 $ 2,500 $ 2,500
Married Filing Separately
Annual benefit limit under defined benefit plans
$ 225,000 $ 220,000
Catch-up Contribution Limits 401(k), 403(b), SEP and 457 plans
2019
2018
$ 6,000 $ 6,000 $ 3,000 $ 3,000
Group-Term Life Insurance Exceeding $50,000 Paid by Employer 5-Year Age Bracket
SIMPLE IRAs
Monthly Cost/$1,000 of Coverage
Under 25 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 to 69
$ $ $ $ $ $ $ $ $ $ $
0.05 0.06 0.08 0.09 0.10 0.15 0.23 0.43 0.66 1.27 2.06
Social Security & Medicare Tax 2019
2018
OASDI
HI
OASDI
HI
Maximum taxable wages/income
$ 132,900 No Limit $ 128,400 No Limit
Tax Rate Employer
6.2% 1.45%*
6.2% 1.45%*
1.45%† 2.35%†
1.45%† 2.35%†
Employee (<$200,000) Employee (>$200,000) Self-Employ (<$200,000) Self-Employ (>$200,000)
6.2%
6.2%
2.9% 3.8%
2.9% 3.8%
12.4%
12.4%
70 and above
OASDI = Old Age, Survivors and Disability Insurance HI = Medicare Hospital Insurance
Tax-Free Commuting Benefits Per Month 2019
* The employer HI rate is 1.45% on all wages. † The 2018-19 employee HI rate is 1.45% on all wages plus an additional 0.9% on wages over $200,000.
2018
Employee Parking
$ $
265 $ 265 $
260 260
Transit Passes/Van Pools
Federal Unemployment Tax Wage Limit Rate
Max. Credit Deposit Rate
Standard Mileage Rates
$
7,000
6.00%
5.40%
0.60%
2019
2018
Business Moving*
58.0¢
54.5¢ 18.0¢ 14.0¢ 18.0¢
0.0¢
Supplemental Wages Withholding Federal Withholding 2019
Charitable
14.0¢ 20.0¢
Medical
2018
Less than $1,000,000
22.0% 37.0%
25.0% 39.6%
* Members of the armed forces on active duty are exception if moving pursuant to military orders.
Over $1,000,000
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