Tax Corner
April 4, 2023 / Tax Related
Tax Filing Deadline is Tuesday, April 18th, 2023.
By now, you should have received all necessary tax documents from us to file your 2022 taxes. If you would like additional copies mailed or emailed to you or your CPA, please contact your advisor.
Contribution Updates:
As a reminder, there are several changes to the limits for 2023. Please see the updates outlined below: Retirement plan contribution limits
- 401(k) – increased to $22,500 + $7,500 for age 50+
- Simple IRA – increased to $15,500+ $3,500 for age 50+
- Roth IRA – increased to $6,500+ $1,000 for age 50+
- Increased to $17,000 per recipient (up from 2022)
- Federal – increased to $12.92 million