An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business.
The amount of employees’ earnings that are subject to Social Security tax is capped for 2020 at $137,700 (up from $132,900 for 2019).
These are only some of the tax limits that may affect your business and additional rules may apply. If you have questions, please contact us.
Brad Voght, CPA, Partner © 2020
1233 N. Mayfair Rd. | Suite 302
Milwaukee, WI 53226
Reach Out To Us
Make A Payment
Make a Payment
© Copyright 2023 Reilly, Penner & Benton LLP. All Rights Reserved. Site Design by Cheramy Story Arts & Marketing