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The following list shows the exemption limits for 2020 and 2021 tax years.

Max Tax Rate 37.00% 37.00%
- Single Top Salary $518,400.00 $523,600.00
- Married Top Salary $622,050.00 $628,300.00
Standard Deduction
- Single Standard Deduction $12,400.00 $12,550.00
- Married Standard Deduction $24,800.00 $25,100.00
- Head of Household Maximum Deduction $18,650.00 $18,800.00
FICA Taxable Wages $137,700.00 $142,800.00
FICA % 6.20% 6.20%
- FICA Max Withholding $8,537.40 $8,853.60
Section 179 $1,040,000.00 $1,050,000.00
Estate Tax Unified Credit $11,580,000.00 $0.00
Non-Taxable Gifts $15,000.00 $15,000.00
Mileage Rates
- Business Travel $0.000 $0.560
- Charity $0.00 $0.14
- Medical and Moving $0.00 $0.16
Retirement Plans
- Compensation Limit $285,000.00 $290,000.00
- Pension/SEP $57,000.00 $58,000.00
- 401K $19,500.00 $19,500.00
- > 50 Catch Up (401K) $6,500.00 $6,500.00
- Simple $13,500.00 $13,500.00
- > 50 Catch Up (Simple) $3,000.00 $3,000.00
- IRA $6,000.00 $6,000.00
- > 50 Catch Up (IRA) $1,000.00 $1,000.00
Flexible Spending Accounts $2,750.00 $2,750.00
Qualified Employee Fringe Benefits $270.00/month $270.00/month
Health Savings Account
- Self Plan $3,550.00 $3,600.00
- Family Plan $7,100.00 $7,200.00
- Age 55 and Over Catch Up $1,000.00 $1,000.00