Several common tax “things” to be aware of include:
- The FICA wage base for 2021 is $142,800.
- The standard deduction amounts for 2021 are as follows:
- Married filing joint – $25,100
- Head of household – $18,800
- Single – $12,550
- An additional $1,350 standard deduction is available for taxpayers who are blind or age 65 or older.
- The business mileage rate for 2021 is 56 cents per mile.
- Per diem reimbursement for travel is found at https://www.gsa.gov/travel/plan-book/per-diem-rates and is now based on zip codes. Post September 30, 2020, the per diem rates for Fargo is $96 a day for lodging and $59 for meals and incidentals. For Minneapolis it is $148 a day for lodging and $79 a day for meals.