Summary of Limits FEDERAL INSURANCE CONTRIBUTION ACT (FICA): 2021 2020 Social Security Tax Maximum Base $ 142,800 $ 137,700 Maximum Social Security Employee Withholding $ 8,853.60 $ 8,537.40 Social Security Rate—Employer 6.2% 6.2% Social Security Rate—Employee 6.2% 6.2% Medicare Tax Maximum Wage Base No limit No limit Maximum Medicare Withholding No limit No limit Medicare Rate—Employer 1.45% 1.45% Medicare Rate—Employee (a) 1.45% / 2.35% 1.45% / 2.35% Combined Tax —Employer 7.65% 7.65% Tax Rate—Employee (a) 7.65% / 8.55% 7.65% / 8.55% (a) Effective January 1, 2013, the employee portion of the Medicare rate increased by 0.9% on in excess of a threshold amount: $250,000 for taxpayers filing joint returns and for surviving spouses; $125,000 for a married taxpayer filing a separate return; and $200,000 for a single taxpayer filing an individual return.

FEDERAL TAX ACT (FUTA): 2021 2020 Taxable Wage Base per Employee $ 7,000 $ 7,000 Gross Tax Rate 6.0% 6.0% Net Tax Rate—California/ Oregon / Washington / Illinois 0.6% 0.6%

STATE UNEMPLOYMENT TAX ACT (SUTA): 2021 2020 Taxable Wage Base per Employee: California $ 7,000 $ 7,000 Oregon $ 43,800 $ 42,100 Washington $ 56,500 $ 52,700 Illinois $ 12,960 $ 12,740 Click here for information on other states.

www.lindquistcpa.com Standard Mileage Rates

Optional standard mileage rates to be used in computing deductible costs of operating a passenger automobile: 2021 2020 Use (per mile) 56¢ 57.5¢ Charitable Use (per mile) 14¢ 14¢ Medical and Moving Use (per mile) 16¢ 17¢ Other Limits

2021 2020 Maximum Deferral Under 401(k), 403(b) and 457 Plans $ 19,500 $ 19,500 Catch-up Contributions for Individuals Age 50 or Over for 401(k), 403(b) and 457 Plans $ 6,500 $ 6,500 Maximum Annual Payout from a Defined Benefit Plan Under Section 415(b) $ 230,000 $ 230,000 Maximum Annual Contribution to a Defined Contribution Plan Under Section 415(c) $ 58,000 $ 57,000 Maximum Annual Compensation for Determining Benefits or Contributions Under a Qualified Plan $ 290,000 $ 285,000 Test to Identify Highly Compensated Employees $ 130,000 $ 130,000 Maximum Pre-tax Contribution by Employees to SIMPLE Accounts Section 408(p) $ 13,500 13,500 Catch-up Contributions for Individuals Age 50 or Over for SIMPLE Accounts $ 3,000 $ 3,000 Medicare (Part B) Standard Monthly Premium $ 148.50 (b) $ 144.60 Wage Exclusion for Qualified Transportation Benefits $ 270.00 $ 270.00

(b) Medicare beneficiaries who currently have the Social Security Administration withhold their Part B premium and have of $88,000 or less ($176,000 or less for joint filers) will pay $148.50 for 2021. For persons with higher levels, the Medicare Part B premium may be higher than the Standard Monthly Premium rate. Filing Deadlines

Calendar Year—2020 Form 5500 August 2, 2021 (Ext. October 15, 2021) Form 990 May 17, 2021 (Ext. November 15, 2021) Form CA-199 May 17, 2021 (Ext. November 15, 2021) Form LM-2 March 31, 2021 Form 1120 POL April 15, 2021 (Ext. October 15, 2021) Form W-2 February 1, 2021 Form 1099 February 1, 2021 Form 940 February 1, 2021 Form 1096 February 1, 2021 Form 1095-C / 1095-B (to individuals) February 1, 2021 (Ext. up to 30 days) Form 1094-C / 1094-B (to IRS) March 1, 2021 (by paper) or March 31, 2021 (electronic) Please e-mail [email protected] or contact your Lindquist representative if you have questions or need additional information. Seattle | Portland | San Francisco | Los Angeles | Chicago DISCLAIMER – Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, Lindquist LLP would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be subject of a separate engagement letter that would define the scope and limits of the desired consultation services. (lq-disc-062016-kjm) ©2020 Lindquist LLP