The Internal Revenue Service (IRS) recently updated its rules concerning individual retirement accounts (IRAs) for 2025. The annual contribution limits will remain the same this year, as detailed ...

In the absence of an employer-sponsored 401(k) plan, an employee can opt for ... for those 50 and older. The Roth IRA contribution limit for 2025 is the same as for 2024. For the tax year 2024 ...

For 2025, the contribution limit is $23,500 with an additional ... Unlock Premium Access — Free For 25 Days. A Simple IRA (savings incentive match pLan for employees) allows contributions ...

When you contribute money to a 529 plan, it’s considered a gift by the IRS. If the contribution is below a certain limit each year, you won’t have to notify the IRS of it. In 2025, you can ...

Employers who don’t offer retirement planning advice should encourage their older employees, particularly those 60-63, to consult with accountants or tax preparers to benefit from the “super” catch-up ...

Pre-Tax Vs. Post-Tax Catch-up contributions made before year-end can go to either traditional retirement accounts, which reduce current-year income taxes, and are known as pretax funds, or to Roth ...

The chart details how the MAGI limits concerning the deductible portion of traditional IRA contributions changed between 2024 and 2025.