Key Numbers

Standard Mileage Rates	2025	2024
Business	$tbd per mile	$.67/mile
Charity	$tbd per mile	$.14/mile
Medical/Moving	$tbd per mile	$.21/mile
FICA Limits	2025	2024
FICA Limits	$176,100	$168,600
HSA Limits	2025	2024
Individual	$4300 ($5300 for those age 55 or older)	$4150 ($5150 for those age 55 or older)
Family	$8550 ($9550 for those age 55 or older)	$8300 ($9300 for those age 55 or older)
IRA Limits	2025	2024
IRA – Traditional or Roth (income limits apply)	$7000 ($8000 for those age 50 and older)	$6500 ($8000 for those age 50 and older)
SEP IRA Limits	2025	2024
Employee	0	0
Employer	Up to 25% of W-2 wages for all eligible employees, $70,000 max	Up to 25% of W-2 wages for all eligible employees, $69,000 max
Self-Employed	25% of (net self-employment income minus SE tax), $70,000 max	25% of (net self-employment income minus SE tax), $69,000 max
Simple IRA	2025	2024
Employee	$16,500 ($20,000 for those age 50-59 or older than 64, $21,750 for those age 60 to 63)	$15,500 ($19,500 for those age 50 or older)
Employer	Option 1: match employee contributions up to 3% of gross wages (can be reduced as low as 1% in 2 out of 5 years); or Option 2: 2% of wages for all employees, $350,000 Max	Option 1:match employee contributions up to 3% of gross wages (can be reduced as low as 1% in 2 out of 5 years); or Option 2: 2% of wages for all employees, $345,000 Max
Self-Employed	100% of self-employment income up to $16,500 ($20,000 for those age 50 or older) PLUS 3% of (remaining self-employment income minus one half of SE tax)	100% of self-employment income up to $15,500 ($19,500 for those age 50 or older) PLUS 3% of (remaining self-employment income minus one half of SE tax)
401-K	2025	2024
Employee	$23,500 ($31,000 for those age 50-59 and older than 64, $34,750 for those age 60-63)	$23,000 ($30,500 for those age 50 and older)
Employer	Up to 25% of W-2 wages. Wages up to $350,000	Up to 25% of W-2 wages. Wages up to $345,000
Employee + Employer combined	$70,000 ($77,500 for those age 50-59 and older than 64, $81,250 for those age 60-63)	$69,000 ($76,500 for those age 50 and older)
Self Employed	100% of self-employment income up to $23,500 ($31,000 for those 50-59 and older than 64, $34,750 for those age 60-63) PLUS up to 20% of (remaining self-employment income minus one half of SE tax) max $70,000 ($77,500 for those age 50-59 and older than 64, $81,250 for those age 60-63)	100% of self-employment income up to $23,000 ($30,500 for those 50 and older) PLUS up to 20% of (remaining self-employment income minus one half of SE tax) max $69,000 ($76,500 for those age 50 and older)