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Frequently Asked Facts:
Maximum IRA Contribution |
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$6,000 ($7,000 for 50 or older) |
401(k) Contribution Limits |
|
2020 |
$19,500 ($26,000 for 50 or older) |
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2019 |
$19,000 ($25,000 for 50 or older) |
Business Mileage Rates |
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2020
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57.5 cents/mile, .18 medical, .14 charitable |
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2019
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58 cents/mile, .18 medical, .14 charitable |
Annual Gift Allowed |
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$15,000 |
HSA Contributions (high deductible insurance plans) |
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2020 |
Single-$3,550 Family-$7,100 55+ extra $1,000 |
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2019 |
Single-$3,500 Family-$7,000 55+ extra $1,000 |
California SDI Wage Base |
|
2020 |
$122,909 at 1.0% - max $1,229.09 |
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2019 |
$118,371 at 1,0% - max $1,183.71 |
Social Security (SSI) Wage Base |
|
2020 2019 |
$137,700 $132,900 |
Maximum Earnings for Social Security Recipients |
|
2020 |
$18,240 |
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2019 |
$17,640 |
Social Security (SSI) Increase for 2019 |
|
2020 |
1.6% COLA (Cost of Living Adjustment) |
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2019 |
2.8% COLA (Cost of Living Adjustment) |
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