2. For 2013, the first $ 113,700 of wages or SE income will be subject to Social Security component of the FICA Tax. There is no wage limit on the Medicare portion. Also, the employee portion of the Medicare tax increases from 1.45% to 2.35% on wages and SE income in excess of $ 200,000 ($250,00 for MFJ and $ 125,000 for MJS).
a. Benefit limit for defined benefit plans $ 205,000.
b. Defined contribution plan limit increases to $ 51,000.
c. Compensation limit for determining benefits and contributions increases to $ 255,000.
d. Definition of a highly-compensated employee is unchanged at $ 115,000.
e. Electrive deferral limit for employees who participate in 401(k), 403(b) and most 457 plans increased to $17,500.
f. Limit on contributions to SIMPLE accounts increased to $ 12,000.
4. 2013 Annual Exclusion for gifts increases from $ 13,000 to $ 14,000.
5. 2013 Updated limitations for a high-deductible health plan for MSAs must have an annual deductible not less than $2,150 and not more than $3,200 for self-only coverage ($ 4,300 and $6,450 for family coverage), and annual limit on out-of-pocket expenses (other than premiums) for $ 4,300 for self-only coverage ($7,850 for family coverage). IRB and News Release IR 2012-78.