2017 Payroll Tax Rates and Limits Changes

 

 20162017
Social Security Wage Limit$118,500$127,200
Federal Unemployment Tax (FUTA) Wage Limit       $7,000$7,000
   
Retirement Contribution Limit Changes:  
401(k)/SEP/403(b)/457 Deferrals$18,000$18,000
Qualified Plan/403(b)/457 Catch-up Contributions$6,000$6,000
SIMPLE IRA$12,500$12,500
SIMPLE IRA Catch-up Contributions$3,000$3,000
Traditional IRA Contribution$5,500$5,500
Traditional IRA Catch-up Contribution$1,000$1,000
   
Standard Mileage Rate$0.54$0.5350
Alabama SUI Wage Limit$8,000$8,000