A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a tax-advantaged retirement savings plan available to employees of small businesses and self-employed individuals. Contributions to a SIMPLE IRA are made on a pre-tax basis, reducing the employee’s current taxable income. Earnings on investments within the SIMPLE IRA grow tax-deferred until withdrawn in retirement. The maximum contribution limit… Read More »
The 401(k) contribution limit for 2025 is the maximum amount of money that employees can contribute to their 401(k) retirement plans on a pre-tax basis. The limit is set by the Internal Revenue Service (IRS) and is adjusted annually for inflation. The 401k contribution limit for 2025 is $22,500, up from $20,500 in 2024. Employees who are age… Read More »
For the year 2025, the Roth contribution limit is the maximum amount of money that individuals can contribute to a Roth IRA account without facing additional taxes or penalties. These accounts are popular retirement savings vehicles that offer tax-free growth and tax-free qualified withdrawals in retirement. The Roth contribution limit for 2025 is $6,500 for individuals under the… Read More »
The 2025 Health Savings Account (HSA) contribution limit is the maximum amount of money that individuals can contribute to their HSA for the calendar year. HSAs offer several benefits, including tax-free savings, tax-free investment growth, and tax-free withdrawals when used for qualified medical expenses.
The HSA 2025 contribution limit is the maximum amount of money that individuals can contribute to their Health Savings Accounts (HSAs) for the year 2025. HSAs are tax-advantaged savings accounts that allow individuals to set aside money to pay for qualified medical expenses. The contribution limit for HSAs is set by the Internal Revenue Service (IRS) and is… Read More »
The 2025 Roth 401(k) contribution limits have been recently announced by the Internal Revenue Service (IRS). The contribution limit for Roth 401(k) plans will increase from $20,500 to $22,500 for 2025, and the catch-up contribution limit for individuals age 50 and older will increase from $6,500 to $7,500. Roth 401(k) plans offer a unique opportunity to save for… Read More »
The Internal Revenue Service (IRS) sets contribution limits and deadlines for Individual Retirement Accounts (IRAs) each year. Roth IRAs have specific eligibility requirements and contribution deadlines, and the deadline for making 2025 Roth IRA contributions is April 15, 2026. Roth IRAs are funded with after-tax dollars, meaning that you do not get an immediate tax deduction for your… Read More »