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The Payroll Advi$or!

Payroll Wage, Contribution Limits for 2013

Need to know what the payroll related tax limits, mileage rates, etc are for 2013. Here you go…..

Payroll Taxes 

  • Social Security wage base:   6.2% of the first $113,700 in wages
  • Medicare tax:  1.45% on the first $200,000 in wages ($250,000 married),  2.35% on all addition wages.
  • FUTA Tax Rate:  .6% of first $7,000 in wages (Note: FUTA Credit Reduction States  will experience additional FUTA tax. The Federal Gov will determine those states at the end of the year. In 2012, there were 18.)

Basic Deferred Savings Plan  Limits

  • 401K, 403B:        $17,500
  • Catch-up (for those 55 or older):   $5,500
  • Simple:   $12,000
  • Section 457;  $17,500
  • Individual Retirement Account (IRA):  $5,500

Mileage Rates

  • Business Miles:   56.5 cents
  • Medical or moving miles:  24 cents
  • Charitable miles:  14 cents


New 2013 W-4′s are on our site under Customer Resources.

Please feel free to call one of our payroll specialists at 423-854-9042 if you need assistance with other payroll issues.


Posted in News
“We have been using Time & Pay for a number of years. Their customer service is outstanding. I would recommend their products and services to anyone looking to get the most out of the payroll process and stay compliant with federal and multi-state payroll regulations.”
-M W – Royal Brass, Knoxville, TN

“As a former customer of one of those big national firms, not only does Time & Pay perform better in the payroll processing area with better products and services, but you are also way ahead of them in the customer service area. It is a pleasure working with your staff knowing that any help we need is readily available.”
-C – Comprehensive Community Services, Johnson City, TN

“Opening up a large retail operation, the last thing I wanted to concern myself with was payroll and all the compliance hassles. Time & Pay takes care of all my payroll needs. With their services, my payroll worries are eliminated. We would recommend your services to any one.”
-D K – DW Express LLC, Bristol, VA

“Time & Pay saved us from hiring another employee to do our payroll. Along with providing great payroll services, they have given us the ability to easily track our labor cost for job costing.”
-J K – American Calendar, Greeneville, TN

“Having Time & Pay as a payroll service has been a wonderful partnership. Their customer service, punctuality and attention to detail have surpassed our expectations and we are glad to have them as a partner in conducting all of our payroll functions. I would highly recommend their services to companies, large and small.”  
-T W – Little Things, LLC, Chattanooga, TN

“After working with one of the national firms, the transition to Time & Pay was easy and beneficial. Their products and services exceeded what we were getting, were more cost effective, and their customer service goes above and beyond. We are very happy we made the change.”
-R V – Mountain Treasure Corral, Kingsport, TN

“We had been doing payroll in-house for years and was looking for a cost effective alternative. Your systems and services have been able to provide us with information and reports we were not able to produce with our old system. You have freed our time to concentrate on more important accounting aspects of our business. With the excellent services you provide, we would not consider any other payroll processing system.”
-Kwick-Way Transportation Co, Gray, TN

Time & Pay is a  godsend for a small business like mine. I no longer have to worry about paying my employees or my payroll taxes accurately or on time!  Time & Pay takes care of everything for me!
-B M – Stellar Studios, Johnson City, TN

“As a new company to Johnson City, we were glad to find a local quality payroll service provider. We had used a national provider in Florida and were well aware of the advantages of outsourcing. Time & Pay offers all that the big national firms provide and more, including local, prompt and courteous customer service!”
-K H – JD Squared, Johnson City, TN

“We find your integrated timekeeping and payroll easy to use and more accurate than the time sheets we were using. My time is now freed up to take care of my patients and other aspects of my business. Thanks for making the transition to outsourcing my payroll easy and cost effective.”
-B W – Westmoreland, DDS, Johnson City, TN


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