Eggert Financial Management, Inc.

Cultivating Wealth, Shaping Legacies
Bill Eggert, CFP®, NSSA®
President
7200 S. Alton Way
Suite A-210
Centennial, CO 80112
303-414-0400
info@eggertfinancial.net
www.eggertfinancial.net

January 10, 2019

2019 Key Numbers
 

Business Planning

Adoption Assistance Programs

Adoption assistance20182019
Maximum amount that can be excluded from employee's gross income$13,810 $14,080
Phaseout threshold amount$207,140$211,160
Completed phaseout amount after$247,140$251,160

Earnings subject to FICA taxes (taxable wage base)

FICA tax20182019
Maximum annual earnings subject to Social Security taxes$128,400 $132,900
Social Security and Medicare combined tax rate15.30%115.30%1
OASDI portion (Social Security)12.40%12.40%
Hospital Insurance portion (Medicare)2.90%12.90%1

1 An additional Medicare (HI) employee contribution rate of 0.9% (for a total employee contribution of 2.35%, and a total combined Medicare contribution rate of 3.8%) is assessed on wages exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns). For married individuals filing joint returns, the additional 0.9% tax applies to the couples combined wages (to the extent the combined wages exceed $250,000).

Health insurance deduction for self-employed

Health insurance premiums20182019
Deduction for health insurance premiums paid by self-employed persons100%100%

Qualified transportation fringe benefits

Qualified transportation fringe benefits20182019
Commuter vehicles and transit pass monthly exclusion amount$260 $265
Qualified parking monthly exclusion amount$260 $265
Qualified bicycle commuting reimbursement fringe benefit (monthly amount)N/AN/A

Section 179 expensing

Section 179 expensing 20182019
Maximum amount that may be deducted under IRC Section 179$1,000,000 $1,020,000
Deduction reduced by the amount by which the cost of §179 property placed in service during the year exceeds this amount$2,500,000$2,550,000

Small business tax credit for providing health-care coverage

Amount of credit20182019
Maximum credit percentage50%50%
Partial credit20182019
Number of full-time equivalent employees (FTEs) fewer than:2525
Maximum average annual wages less than:$53,200 $54,200
Full credit20182019
Number of full-time equivalent employees (FTEs) no more than:1010
Maximum average annual wages less than or equal to:$26,600$27,100

Special additional first-year depreciation allowance

Bonus depreciation20182019
"Bonus" depreciation for qualified property acquired and placed in service during specified time periods100%100%

Standard mileage rate (per mile)

Business use of auto20182019
Use of auto for business purposes$0.545$0.58

Tax on accumulated earnings and personal holding company income

Accumulated earnings and personal holding company income20182019
Maximum tax on these items20%20%
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Eggert Financial Management, Inc. is an Investment Advisory firm regulated by the State of Colorado.

 

Prepared by Broadridge Advisor Solutions Copyright 2019.