The following "Key Numbers" document highlights changes to tax reference numbers for 2024. Contribution limits for retirement accounts and HSA accounts have increased for 2024:
| Contribution limits | 2024 | 2023 |
|---|---|---|
| 401k, 403b, 457(b) plans, and other retirement accounts (under 50) | $23,000 | $22,500 |
| 401k, 403b, 457(b) plans, and other retirement accounts (over 50 catch-up) | $7,500 | $7,500 |
| Traditional and Roth IRA*** income limits apply (under 50) | $7,000 | $6,500 |
| Traditional and Roth IRA*** income limits apply (over 50 catch-up) | $1,000 | $1,000 |
| HSA Contribution for individuals (under 55) | $4,150 | $3,850 |
| HSA Contribution for families (under 55) | $8,300 | $7,750 |
| HSA Contributions (over 55 catch-up) | $1,000 | $1,000 |
Advisory Services offered through Peak Asset Management, LLC, an SEC registered investment advisor. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This content is developed from sources believed to be providing accurate information and may have been developed and produced by a third party to provide information on a topic that may be of interest. This third party is not affiliated with Peak Asset Management. It is not our intention to state or imply in any manner that past results are an indication of future performance. Copyright © 2024 Peak Asset Management