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2017 Payroll Tax Rates and Limits Changes

authorIcon By Advapay topicIcon Business Basics SHARE THIS STORY | |

 

2016 2017
Social Security Wage Limit $118,500 $127,200
Federal Unemployment Tax (FUTA) Wage Limit        $7,000 $7,000
Retirement Contribution Limit Changes:
401(k)/SEP/403(b)/457 Deferrals $18,000 $18,000
Qualified Plan/403(b)/457 Catch-up Contributions $6,000 $6,000
SIMPLE IRA $12,500 $12,500
SIMPLE IRA Catch-up Contributions $3,000 $3,000
Traditional IRA Contribution $5,500 $5,500
Traditional IRA Catch-up Contribution $1,000 $1,000
Standard Mileage Rate $0.54 $0.5350
Alabama SUI Wage Limit $8,000 $8,000

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