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2014 Regulatory Changes …

2014 REGULATORY CHANGES …

Social Security

The 2014 social security wage base is $117,000 (up from $113,700 IN 2013)

Deferred Compensation

401(k), 403(b), Profit sharing plans, etc.
$ 17,500 Elective Deferral (no change)
$ 5,500 Catch-up Deferral (no change) $260,000 Annual Compensation $ 52,000 Annual Contribution Limit

SIMPLE Plans:

$12,000 Employee Deferrals (no change)
$ 2,500 Catch-up Deferrals (no change)

Health Savings Account Limits

Maximum HSA Contributions:

$3,300 Individual $ 6,550 Family
$1,000 Catch-up Limit

Minimum HDHP Deductible:
$1,250 Individual $ 2,500 Family
Out-of-Pocket Maximum:
$6,350 Individual $12,700 Family

Other Limits – Flexible Spending Accounts
$2,500 Medical Account
$ 5,000 Dependent Account

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Erich J. Ruth

Erich J. Ruth provides technical support for National Software which is the parent company for 1099FIRE. 1099FIRE develops and markets a comprehensive range of products that enables any size of business or institution to effectively manage and comply with year-end filing requirements. 1099FIRE is an employee-owned company located in Phoenix, Arizona.

If you have any questions or comments about our software, feel free to contact us at any time.

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