2009 Business Quick Facts

Section 179 Deduction:

Maximum deduction .......... $133,000

Qualifying property limit .... $530,000

SUV deduction limit ............$25,000

SIMPLE IRA plan contributions limits:

Under age 50 ........ $11,500

Age 50 or older ..... $14,000

401(k), 403(b), 457 and SARSEP elective deferral limits:

Under age 50 ........ $16,500

Age 50 or older ..... $22,000

Other Retirement limits:

Profit-sharing plan / SEP contribution limit:  $49,000

Compensation limit (for employer contributions to profit sharing plans):  $245,000

Defined benefit plans (annual benefit limit):  $195,000

"Key employee" compensation threshold:  $160,000

"Highly compensated" employee threshold:  $110,000