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| Below are the IRS announced plan limits and mileage reimbursement |
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| Limits |
2010 |
2009 |
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| IRA Contribution Limit |
$5,000 |
$5,000 |
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| IRA Catch-Up Contributions (if over |
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| 50 years old) |
$1,000 |
$1,000 |
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| 401(k), 403(b), 457 and SARSEP |
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| Elective Deferral Limit |
$16,500 |
$16,500 |
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| 401(k), 403(b), 457 and SARSEP |
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| Catch-Up Contributions |
$5,500 |
$5,500 |
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| SIMPLE 401(k) and SIMPLE IRA |
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| Deferral Limit |
$11,500 |
$11,500 |
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| SIMPLE 401(k) and SIMPLE IRA |
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| Catch-Up Contributions |
$2,500 |
$2,500 |
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| Coverdell Education Savings Account |
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| (ESA) Contribution Limit |
$ 500 |
$2,000 |
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| Defined Benefit 415 Dollar Limit |
$195,000 |
$195,000 |
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| Compensation Limit Used for |
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| Contributions/Benefits |
$245,000 |
$245,000 |
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| Defined Contribution 415 Dollar Limit |
$49,000 |
$49,000 |
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| Defined Contribution 415 Percent of |
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| Pay Limit |
100% |
100% |
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| 404 Employer Deduction Limit for |
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| Profit Sharing Plans as a Percentage |
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| of Pay |
25% |
25% |
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| Top-Heavy Plan Key Employee |
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| Compensation Limit |
$160,000 |
$160,000 |
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| Highly Compensated Employee |
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| Compensation Limit |
$110,000 |
$110,000 |
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| SEP Coverage |
$550 |
$550 |
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| Taxable Wage Base |
$106,800 |
$106,800 |
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| Social Security Tax for Employees |
6.2% |
6.2% |
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| Medicare Tax for Employees |
1.45% |
1.45% |
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| Social Security Tax for Self Employed |
12.4% |
12.4% |
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| Medicare Tax for Self Employed |
2.9% |
2.9% |
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| Rate for Business Miles Driven |
50.0¢ |
55.0¢
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Rate per Mile Driven for Medical or Moving
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| Purposes |
16.5¢ |
24¢ |
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| Rate per Mile Driven in Service to a |
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| Charitable Organization |
14¢ |
14¢ |
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