November 20, 2015

2015-2016 Contribution Limits for IRAs and Retirement Plans

The IRS has just released their updated contribution limits for tax deferred savings plans for next year. Since there has been no appreciable inflation for the past year, the contribution limits remain the same as last year. If you want to begin planning for your 2016 contributions or to maximize your 2015 tax deferred savings, the attached chart will give you the amounts you can contribute and any applicable income limitations for this year and next. Click here for chart.