Selected Information:

We feel that an informed client is our best client.

Below is a brief listing of some information relevant to Payroll, Mileage and Retirement Plan Funding by Year:

Michigan Minimum Wage Increase: 1-1-17 $8.90, 1-1-18 $9.25, 4-1-19 $9.45

FEDERAL INSURANCE CONTRIBUTION ACT - FICA     2017 2018 2019
Social Security Wage Base $127,200
$128,400 $132,900
Medicare Wage Base Unlimited Unlimited Unlimited
Social Security Rate - Employer 6.2% 6.2% 6.2%
Social Security Rate - Employee 6.2% 6.2% 6.2%
Medicare Rate 1.45% 1.45% 1.45%
Max Social Security Withholding  $7,886.40 $7,960.80

$8,239.80

Max Medicare Withholding Unlimited Unlimited Unlimited
FEDERAL UNEMPLOYMENT TAX ACT - FUTA 2017 2018 2019
Taxable Wage Base Per Employee $7,000.00 $7,000.00 $7,000.00
Net Tax Rate 1.7% 1.7% 1.7%
FUTA Tax Rate 6.0% 6.0%  6.0%
STATE UNEMPLOYMENT TAX ACT - SUTA 2017 2018 2019
Michigan's Taxable Wage Base Per Employee $9,500.00 $9,500.00 $9,500.00
MILEAGE RATES-Business/Charitable/Medical/Moving: 2017 2018 2019
Business Use (per mile)

$.535

$.545

 $.58

Charitable Use (per mile) $.14 $.14  $.14 
Medical and Moving Use (per mile)  

$.17

$.18

 $.20

 RETIREMENT PLAN - MAX Deferrals/Contributions: 2017  2018  2019
IRA Traditional/Roth Contribution Limit/Catch up age 50 or over $5,500.00/$1,000.00 $5,500.00/$1,000.00

$6,000.00/$1,000.00

Max Elective Deferral Under 401(K), 403(B) and Profit Sharing Plans $18,000.00 $18,500.00

$19,000.00

Catch-up Contributions for Individuals age 50 or over
for 401(K) and 403(B) and Profit Sharing Plans
$6,000.00 $6,000.00

 $6,000.00

Max Pre-tax contribution by employees to SIMPLE
retirement accounts section 408(P)
$12,500.00 $12,500.00

 $13,000.00

Catch-up contributions for individuals age 50 or over
for SIMPLE accounts
$3,000.00 $3,000.00

 $3,000.00