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 assistance20192020
Maximum amount that can be excluded from employee's gross income$14,080 $14,300
Phaseout threshold amount$211,160$214,520
Completed phaseout amount after$251,160$254,520

Earnings subject to FICA taxes (taxable wage base)

FICA tax20192020
Maximum annual earnings subject to Social Security taxes$132,900$137,700
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 premiums20192020
Deduction for health insurance premiums paid by self-employed persons100%100%

Qualified transportation fringe benefits

Qualified transportation fringe benefits20192020
Commuter vehicles and transit pass monthly exclusion amount$265$270
Qualified parking monthly exclusion amount$265$270
Qualified bicycle commuting reimbursement fringe benefit (monthly amount)N/AN/A

Section 179 expensing

Section 179 expensing 20192020
Maximum amount that may be deducted under IRC Section 179$1,020,000 $1,040,000
Deduction reduced by the amount by which the cost of §179 property placed in service during the year exceeds this amount$2,550,000$2,590,000

Small business tax credit for providing health-care coverage

Amount of credit20192020
Maximum credit percentage50%50%
Partial credit20192020
Number of full-time equivalent employees (FTEs) fewer than:2525
Maximum average annual wages less than:$54,200$55,200
Full credit20192020
Number of full-time equivalent employees (FTEs) no more than:1010
Maximum average annual wages less than or equal to:$27,100$27,600

Special additional first-year depreciation allowance

Bonus depreciation20192020
"Bonus" depreciation for qualified property acquired and placed in service during specified time periods100%100%

Standard mileage rate (per mile)

Business use of auto20192020
Use of auto for business purposes$0.58TBD

Tax on accumulated earnings and personal holding company income

Accumulated earnings and personal holding company income20192020
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.