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For 2021, the social security tax withheld for employees is 6.2%.  The social security tax is stopped when an employee's wages reach $142,800 for the calendar year. 

For 2021, the elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is $19,500.  The catch-up contribution limit for those aged 50 and over is $6,500.
  
The 2021 IRS standard mileage rates are as follows: 
           -business rate is 56 cents per mile.   
           -medical/moving rate is 16 cents per mile.  
           -charitable rate is 14 cents per mile.  
  
The annual gift tax exclusion remains at $15,000 for 2021.  






Please note that the information on this website is generic.  Consult with your tax advisor or governing agency if you have questions with your specific situation.




















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