{"id":925,"date":"2019-01-24T16:10:22","date_gmt":"2019-01-24T16:10:22","guid":{"rendered":"https:\/\/www.excelsisaccounting.com\/blog\/?p=925"},"modified":"2019-01-24T16:10:23","modified_gmt":"2019-01-24T16:10:23","slug":"many-tax-related-limits-affecting-businesses-increase-for-2019","status":"publish","type":"post","link":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/2019\/01\/24\/many-tax-related-limits-affecting-businesses-increase-for-2019\/","title":{"rendered":"Many tax-related limits affecting businesses increase for 2019"},"content":{"rendered":"

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A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here\u2019s a look at some that may affect you and your business.<\/p>\n

Deductions<\/strong><\/p>\n

\n
Section 179 expensing:\n
\n
Limit: $1.02 million (up from $1 million)<\/li>\n
Phaseout: $2.55 million (up from $2.5 million)<\/li>\n<\/ul>\n<\/li>\n
Income-based phase-ins for certain limits on the Sec. 199A qualified business income deduction:\n
\n
Married filing jointly: $321,400-$421,400 (up from $315,000-$415,000)<\/li>\n
Married filing separately: $160,725-$210,725 (up from $157,500-$207,500)<\/li>\n
Other filers: $160,700-$210,700 (up from $157,500-$207,500)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Retirement plans<\/strong><\/p>\n
\n
Employee contributions to 401(k) plans: $19,000 (up from $18,500)<\/li>\n
Catch-up contributions to 401(k) plans: $6,000 (no change)<\/li>\n
Employee contributions to SIMPLEs: $13,000 (up from $12,500)<\/li>\n
Catch-up contributions to SIMPLEs: $3,000 (no change)<\/li>\n
Combined employer\/employee contributions to defined contribution plans (not including catch-ups): $56,000 (up from $55,000)<\/li>\n
Maximum compensation used to determine contributions: $280,000 (up from $275,000)<\/li>\n
Annual benefit for defined benefit plans: $225,000 (up from $220,000)<\/li>\n
Compensation defining \u201chighly compensated employee\u201d: $125,000 (up from $120,000)<\/li>\n
Compensation defining \u201ckey employee\u201d: $180,000 (up from $175,000)<\/li>\n<\/ul>\n
Other employee benefits<\/strong><\/p>\n
\n
Qualified transportation fringe-benefits employee income exclusion: $265 per month (up from $260)<\/li>\n
Health Savings Account contributions:\n
\n
Individual coverage: $3,500 (up from $3,450)<\/li>\n
Family coverage: $7,000 (up from $6,900)<\/li>\n
Catch-up contribution: $1,000 (no change)<\/li>\n<\/ul>\n<\/li>\n
Flexible Spending Account contributions:\n
\n
Health care: $2,700 (up from $2,650)<\/li>\n
Dependent care: $5,000 (no change)\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Additional rules apply to these limits, and they are only some of the limits that may affect your business. Please contact us for more information. <\/p>\n
\u00a9 2019
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A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here\u2019s a look at some that may affect you and your business. Deductions Section 179 expensing: Limit: $1.02 million (up from $1 million) Phaseout: $2.55 million (up from $2.5 million) Income-based phase-ins for certain limits on … Continue reading “Many tax-related limits affecting businesses increase for 2019”<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-925","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=925"}],"version-history":[{"count":1,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/925\/revisions"}],"predecessor-version":[{"id":926,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/925\/revisions\/926"}],"wp:attachment":[{"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.excelsisaccounting.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}