• Section 179 Expense limits
  • 2010 $250,000
  • 2011

  • Mileage rates for business
  • 2010  50 cents per mile
  • 2011  51 cents per mile (Jan to June)
  • 2011  55.5 cents per mile NEW (effective July 1)

  • Social Security taxable wage
  • 2010  $106,800.00 X 6.2% = $6,621.60
  • 2011  $106,800.00
  • Employer 6.2%
  • Employee 4.2%

  • Minimum Wage: $7.25 per hour (effective 7/24/2009)
Retirement Limits
Small Business Support Services
  • 401(k) limits
  • 2010  $16,500.00 & $22,000.00
  • 2011  no change for 2011

  • SIMPLE-IRA limits
  • 2010  $11,500.00 & $14,000.00
  • 2011  no change for 2011

  • SEP IRA limits
  • 2010  $49,000 or 25%
  • 2011  no change for 2011

Max comp. generally  $245,000.00
Quick Reference for various rates and limits
Depreciation, Mileage Rates, etc.