|
|
| Item | Description |
|---|
| Tax Relief Act of 2010 |
The legislation includes a 2% reduction in employees share of social
security for the first $106,800 of wages in 2011, lowering the rate to 4.2%;
Employers continue to pay the
full rate of 6.2%. | |
| Federal Tax Table 2011 |
The new tax table can be found in publication 15 at either irs.gov or here. | |
| Social Security Wage Limit |
- 4.2% employee on wages to $106,800 for a maximum witheld of $4,485.60.
- 6.2% employer on wages to $106,800.
| |
| Medicare Wage Limit |
1.45% on all wages. | |
| PA Income Tax |
3.07% | |
| PA Unemployment Compensation |
0.08% | |
| 401K | | Deferal Limit | $16,500 | | Catch Up | $5,500 |
| |
| Simple |
| Limit | $11,500 |
| Catch Up | $2,500 |
| |
| Standard Milage Rate |
51 cents a mile for business miles driven. | |
All information is provided as of January 10, 2011 and is believed to be accurate at time of release. Please consult with the appropriate agency for updates and changes.
|