2021 Limits Flashcards
1
Q
One Day rule for tax deposits
A
Minimum 100,000
2
Q
Federal wage
A
Minimum $7.25
3
Q
FUTA Taxable Base
A
Max $7000
4
Q
SS Wage Base
A
max 142,800
5
Q
SUTA Taxable Base
A
Minimum $7000
6
Q
Health Care FSA
A
Maximum $2,750
7
Q
457
A
Maximum $19,500
8
Q
ER FICA
A
Maximum 6.2%
9
Q
Non Taxable Life Insurance Employee
A
Maximum $50,000
10
Q
Mileage
A
Max rate $0.56
11
Q
FUTA Credit
A
Maximum 5.4%
12
Q
403B
A
Maximum $19,500
13
Q
Parking
A
Maximum $270/month
14
Q
Child care FSA
A
$5000 Maximum
15
Q
Employer Social Security Rate
A
Max 6.2%
16
Q
Monthly Depositor
A
max: $50,000 or less
17
Q
Amount or % for a garnishment
A
max: $217.50 or 25%
18
Q
Backup withholding
A
Max: 24%
19
Q
Effective FUTA Rate
A
Max 0.60%
20
Q
Transit
A
Max: $270/month
21
Q
Medicare Rate
A
max: 1.45%
22
Q
Non-taxable Life Insurance Spouse
A
Max: $2000
23
Q
401K
A
Max: $19,500
24
Q
Semiweekly depositor
A
Minimum: more than $50,000
25
Q
Tax % on Supplemental Wages
A
Max: 22% or 37%
