Key Rates and Figures
Some Key Rates for 2025 and 2026:
- Standard business mileage rate: 70 cents per mile for 2025
- Standard business mileage rate: 72.5 cents per mile for 2026
- Federal minimum wage: $7.25 (effective July 24, 2009)
- For minimum wage rates by state click here
- Annual gift tax exclusion: $19,000 for 2025 and 2026
IRA Contributions
- $7,000 (regular, subject to limits) for 2025 & $7,500 (regular, subject to limits) for 2026
- $1,000 for 2025 & $1,100 for 2026 (additional catch-up, must be 50 or older by the end of the year)