2007 Rates and Numbers:
Business Mileage: $.485 per mile
401K Pretax Contribution Limit: $15,500.00
Payroll:
-Social Security: 6.20%
-Medicare: 1.45%
-Social Security Wage Limit: $97,500
-Medicare Wage Limit: None
Depreciation Limits for Vehicles Placed in Service in 2007:
Autos Trucks/Vans
-Year 1 $3,060.00 $3,260.00
-Year 2 $4,900.00 $5,200.00
-Year 3 $2,850.00 $3,050.00
-Thereafter (per year) $1,775.00 $1,875.00