Category
2012
2011
2010
2009
Standard Mileage Rates
Business
$0.555
*
$0.50
$0.55
Charity
$0.14
$0.14
$0.14
$0.14
Moving/Medical
$0.23
**
$0.165
$0.24
Maximum Wage Base, Social Security Tax
$110,100
$106,800
$106,800
$106,800
HSA Single
$3100
$3050
$3050
$3000
HSA Family
$6250
$6150
$6150
$5950
401(k) Deferred Limit
$17,000
$16,500
$16,500
$16,500
Simple Plan Limit
$11,500
$11,500
$11,500
$10,500
Retirement Plan Wage Limit
$250,000
$245,000
$245,000
$245,000
Defined Contribution Limit
$50,000
$49,000
$49,000
$49,000
Section 179 Expense
$139,000
$500,000
$250,000
$250,000
Maximum IRA Contribution
$5,000
$5,000
$5,000
$5,000

"Catch-up Contributions"
IRA
$1,000
$1,000
$1,000
$1,000
Simple IRA
$2,500
$2,500
$2,500
$2,500
401K
$5,500
$5,500
$5,500
$5,500
HSA
$1,000
$1,000
$1,000
$1,000
Estate Tax Exemption
$5,120,000
$5,000,000
$5,000,000
$3,500,000
Gift Tax Exclusion
$5,120,000
$5,000,000
$5,000,000
$1,000,000
Annual Gift Tax Exemption
$13,000
$13,000
$13,000
$13,000
Nanny Tax Threshold
$1,700
$1,700
$1,700
$1,700

 

* 1/01 to 6/30 - 0.51; 7/01 to 12/31 - 0.555
** 1/01 to 6/30 - 0.19; 7/01 to 12/31 - 0.235


* Congress is expected to pass estate and gift tax legislation at some future date. We shall update information at that time.

 


To maintain a close and continuing relationship with each of our clients. This continuity of service allows Taylor & Wainio, P.A. to become thoroughly familiar with our clients' operations and personnel, and insures the most professional and efficient service possible to each client.


The firm belongs to the Private Companies Practice Section of the Division of CPA Firms of the American Institute of Certified Public Accountants. As a member of this section, the firm periodically undergoes peer reviews of the audit practice and system of quality control.