Limits

2018 vs 2017 Roth IRA Contribution and Income Limits plus Conversion Rollover Rules

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[Updated with 2018 Roth IRA limits] The latest income phase out ranges for the deductibility of Roth IRA contributions are shown in the table below. You may be able to contribute to a Roth IRA for yourself or your spouse if you have earned income within or below the following thresholds. Looking to open your first IRA […]

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2017 vs 2018 401k, 403b, 457 and TSP Contribution Limits and Catch-up Amounts

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[Updated with the latest 2018 contribution limits] The IRS has released updated employer sponsored retirement plan limits, which covers 401(k), 403(b), 457 and Government Thrift Savings (TSP) plans. The annual contribution limit, which is indexed to inflation increased by $500 in 2018. This means the maximum amount employees will be able to contribute on a pre-tax basis in […]

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2014 401K and IRA Contribution and Income Limits

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The IRS has released updated 2014 limits for defined contribution (or pension) plans such as 401(k) and IRAs. This was delayed from the usual mid-October release due to the government shutdown. The annual limits are tied to Cost of Living Adjustment (COLA) figures and based on these the updated 2014 limits and contribution amounts are shown below […]

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2013 401k, IRA, SEP and Simple IRA Retirement Plan Contribution and Income Limits

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The IRS has published 2013 retirement plan limits following the release of Cost of Living Adjustment (COLA) figures for next year.  This was the second consecutive year of increases to contribution limits, as shown in the table below.  With the new $17,500 limit, employees enrolled in an employee sponsored retirement plan (401k, 403b, and Thrift Savings […]

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2012 vs. 2013 IRA Maximum Contribution, Income and Deduction Limits Factoring in Employer Coverage Restrictions

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I’ve written a fair bit on tax-advantaged individual retirement plans, but still keep getting lots of questions on this topic. This is likely due to two main factors. One, thanks to the complexities of our tax code, it is not always easy to find current and applicable IRA/401K information. Secondly, because you can have multiple […]

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2017 vs 2016 HSA Contribution Limits and Tax Rules For High deductible Health Insurance Plans and Health Savings Accounts

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[Updated with latest HSA limits] Based on IRS figures, here are the latest 2016 and 2017 HSA limits.  The $50 increase in the 2017 HSA contribution limit for individuals is the only change from 2016. HSAs have risen in popularity thanks to health-care law changes and the increasing use of high-deductible health plans (see earlier updates below). […]

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