Business Planning

Adoption Assistance Programs
Adoption assistance | 2024 | 2025 |
Maximum amount that can be excluded from employee's gross income | $16,810 | $17,280 |
Phaseout threshold amount | $252,150 | $259,190 |
Completed phaseout amount after | $292,150 | $299,190 |
Earnings subject to FICA taxes (taxable wage base)
FICA tax | 2024 | 2025 |
Maximum annual earnings subject to Social Security taxes | $168,600 | $176,100 |
Social Security and Medicare combined tax rate | 15.3% | 15.3% |
OASDI portion (Social Security) | 12.40% | 12.40% |
Hospital Insurance portion (Medicare) | 2.9% | 2.9% |
Health insurance deduction for self-employed
Health insurance premiums | 2024 | 2025 |
Deduction for health insurance premiums paid by self-employed persons | 100% | 100% |
Qualified transportation fringe benefits
Qualified transportation fringe benefits | 2024 | 2025 |
Commuter vehicles and transit pass monthly exclusion amount | $315 | $325 |
Qualified parking monthly exclusion amount | $315 | $325 |
Qualified bicycle commuting reimbursement fringe benefit (monthly amount) | N/A | N/A |
Section 179 expensing
Section 179 expensing | 2024 | 2025 |
Maximum amount that may be deducted under IRC Section 179 | $1,220,000 | $1,250,000 |
Deduction reduced by the amount by which the cost of §179 property placed in service during the year exceeds this amount | $3,050,000 | $3,130,000 |
Small business tax credit for providing health-care coverage
Amount of credit | 2024 | 2025 |
Maximum credit percentage | 50% | 50% |
Partial credit | 2024 | 2025 |
Number of full-time equivalent employees (FTEs) fewer than: | 25 | 25 |
Maximum average annual wages less than: | $64,800 | $66,600 |
Full credit | 2024 | 2025 |
Number of full-time equivalent employees (FTEs) no more than: | 10 | 10 |
Maximum average annual wages less than or equal to: | $32,400 | $33,300 |
Special additional first-year depreciation allowance
Bonus depreciation | 2024 | 2025 |
"Bonus" depreciation for qualified property acquired and placed in service during specified time periods | 60% | 40% |
Standard mileage rate (per mile)
Business use of auto | 2024 | 2025 |
Use of auto for business purposes | $0.67 | 0.70 |
To learn more about what this means for your business, contact MNM Vested, LLC
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