2019 Contribution Limits
The IRS increased 2019 contribution limits for many tax-preferred savings accounts. Take note of the following $500 increases in maximum annual contributions for retirement savers using an IRA or 401(k):
The IRS also bumped up contribution limits for Health Savings Accounts:
There were also increases to employer savings limits in defined contribution plans and to income limitations for Roth IRA contributions.
Please contact us if you would like to discuss how or whether to take advantage of the rule changes.