Social Security Tax
- For 2019, the employee tax rate for Social Security is 6.2%
- The Social Security Wage Base Limit is $132,900 for 2019; Social Security Tax will only be collected on the first $132,900 earned.
The Medicare tax rate will remain at 1.45%; there is no wage base limitfor Medicare tax. The 0.9% Additional Medicare Tax will be withheld from the wages of those earning more than $200,000 in a calendar year.
Effective January 1, 2019, the standard mileage rates for the costs of operating a car for business purposes are:
- 58 cents per mile per business miles driven (an increase of 3.5 cents from 2018)
- 20 cents per mile driven for moving expenses (an increase of 2 cents from 2018)