TSP 2024 2023 2022 Contribution Limit $23,000 $22,500 $20,500 Health Savings Plan (HSA) Contribution Limits A Health Savings Plan (HSA) is a way to save money for healthcare costs with pre-tax dollars. Money in an HSA can only be used for qualifying medical expenses, but they are ...
Here’s how it has changed, according to the IRS: The 2025 income limit for taking this credit rises to $79,000 for married couples filing jointly, up from $76,500 in 2024. For heads of household, it is $59,250, up from $57,375 in 2024; and $39,500 for singles and married in...
There’s an important secondary contribution limit that may apply to people who have a very generous employer-sponsored retirement plan, or even multiple plans. It’s particularly relevant for high-income taxpayers, who make larger than average retirement contributions. Themaximum contribution to all ...
Final Thoughts on 401(k) Contribution Limits for 2024 The IRS increased the 2024 maximum 401(k) contribution limit to $23,000, with a catch-up contribution of $7,500 for those 50 and older. Changes in inflation affect the limits, which have risen gradually. Consider factors like loan type...
Catch-up Contribution Limits 2023 & 2024 The IRS reviews and adjusts contribution limits every year, primarily considering inflation. A prerequisite to catch-up contributions is reaching your plan's contribution limit. The contribution limits for 2023 and 2024 are shown in the following table: Cat...
2024 Traditional IRA Contribution Limits Themaximum contribution limitfor a traditional IRA is $7,000 in 2024, unless you are at least 50 years old. If you’re at least 50, you can make an additional $1,000 catch-up contribution, according to the IRS. ...