Every year, Cast & Crew prepares a summary of key changes in labor and compliance within the entertainment industry, known as What’s New. This roundup is not intended as legal advice but aims to inform you about the various issues and challenges our industry faces.
What’s New for 2025 highlights include minimum wage increases, changes to federal tax and retirement limits, and more. If you have any questions, please email compliance@castandcrew.com.
What's new in the United States
New minimum wage increases
IRS issues standard mileage rates for 2025
Notice 2024-312, December 19, 2024 - Today, the Internal Revenue Service issued the 2025 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Beginning on January 1, 2025, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:
- 70 cents per mile for business purposes
- 21 cents per mile for medical or moving purposes
- 14 cents per mile for charitable purposes
The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
Social Security Tax limits for 2025
Starting January 1, 2025, the maximum earnings subject to the Social Security payroll tax will increase by $7,500 up to $176,100—from 2024’s $168,600 max. The Social Security Administration made the announcement on October 10. The SSA also posted a fact sheet summarizing the 2025 changes.
The taxable wage cap is subject to an automatic cost-of-living adjustment (COLA) each year based on increases in the national average wage index, calculated annually by the SSA.
401(k) limits for 2025
The IRS has just revealed that the contribution limit for 401(k) plans in 2025 will experience a $500 uptick, rising to $23,500 from the previous year’s $23,000.
- The 401(k) contribution limit is $23,500
- The 401(k) catch-up contribution limit remains at $7,500 for those ages 50 and older
- Under a change made in SECURE 2.0, a higher catch-up contribution limit applies for employees aged 60-63. For 2025, this higher catch-up contribution limit is $11,250 instead of $7,500.
What's new in Canada
Claims codes
CPP / EI Limits and more
Provincial minimum wages
WCB maximum assessable earnings 
