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.
Social Security tax
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).
Other employee benefits
These are only some of the tax limits that may affect your
business and additional rules may apply. If you have questions, please contact