Quick Payroll Facts 2017

Minimum Wage 2017 2016    2015
Ohio Minimum Wage  $8.15    $8.10 $8.10
Tipped Employees  $4.08   $4.05 $4.05
Federal If Gross Under 292,000 or 14 and 15 Year Olds  $7.25  $7.25  $7.25
       
Pension Limits  2017   2016   2015
Simple
Simple 50 and over
$12,500
 $15,500 
       $12,500        $15,500 $12,500
   $15,500  
401(k)
401(k) 50 and over
$18,000
 $24,000 
$18,000
$24,000
     $18,000      $24,000
IRA & Roth
IRA & Roth 50 and over
$5,500
$6,500
$5,500
$6,500
$5,500
$6,500
       
HSA
HSA 55 and over
$3,400/6,750
$4,350/7,750
$3,350/$ 6,750
$4,350/$ 7,750
 $3,350/ $6,650
 $4,350/ $7,650
       
FICA Taxes  2017  2016  2015
Social Security Wage Base $127,200 $118,500  $118,500
Maxiumum Withholding (6.2%)  $7,886.40 $7,347  $7,347
Medicare Wage Base  No Limit      No Limit      No Limit
Maxiumum Withholding (1.45%)  No Limit      No Limit      No Limit
Withhold an additional 0.9% on Medicare Wages in excess of $200k      
       
Mileage Rates  2017  2016  2015
Business  $0.535/mile $0.54/mile $0.575/mile
Medical or Moving  $0.17/mile $0.19/mile $0.23/mile
Charitable  $0.14/mile $0.14/mile $0.14/mile