2 minutes reading time (305 words)

IRA & 401k Contributions Increase for 2019

2019 annual contribution limits for eligible tax filers:

401(k), 403(b), most 457 plans, and Thrift Savings Plan is increased from $18,500 to $19,000.

IRA contributions increased from $5,500 to $6,000 per year. The age 50+ catch-up contribution limit remains at $1,000.

Tax deduction and Income limitations for 2019:

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or their spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor their spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.) Here are the phase-out ranges for 2019:

If single or joint married taxpayers are not covered by a work retirement plan, they may fully deduct traditional IRA contributions. Other tax filers may partially or fully deduct contributions if they meet the below exceptions:

  • Single taxpayers covered by a work retirement plan, can fully deduct if modified Adjusted Gross Income (AGI) is below $64,000. A partial deduction is allowed if modified AGI is between $64,000 to $74,000
  •  Married Joint taxpayers, where the spouse making the IRA contribution is covered by a workplace retirement plan, can fully deduct if modified AGI is below $103,000. A partial deduction is allowed if modified AGI is between $103,000 to $123,000
  • Married Joint taxpayers, where the spouse making the IRA contribution is not covered by a workplace retirement plan, but the other spouse is, can fully deduct if modified AGI is below $193,000. A partial deduction is allowed if modified AGI is between $193,000 to $203,000

The Modified AGI phase-out range for Roth IRA contributions is $122,000 to $137,000 for singles and heads of household, $193,000-203,000 for married couples filing jointly.

Earned Income and Social Security Tax
2019 Medicare and Social Security Changes

Search Blogs Module

Wait a minute, while we are rendering the calendar
4 pm -8pm holidays approach IRA accounts estate planning direction pet supplies 2017 Equifax breach company National Ice Cream month borrowing money Medicare Advantage 2017 IRA contributions retirement Brexit vote Part D premiums . spam phone DNA test kits Kraig Mathias relief efforts client portal “ skimmer ”. home mortgages Medicare Part B premiums Open House credit card company vacation birth certificates parking spots clients show support cell phone carriers offer https ://seekingalpha ice cream event clone counterfeits consumer spending paperwork clutter official certification Victor Dergunov October 1 2020. disaster areas drive /usb Legal robocalls Kiplinger Letter cell phone SIM swap scam scams Joey Gonzales TD Ameritrade wells Fargo January 10 Independence Day estate planning checklists Supplemental Security Income 900 number emergency folder partner /owner opt-out jury duty identity thieves breach donation counts Treasury Department donation items Roth IRA pet industry media accounts Part B ice cream integral member pet donation drive spring cleaning earthquake app memorial Day weekend Wells Fargo employees operations manager Expired medications app padlock cell phones home emergency preparedness kits house sitter fees asset Planning Facebook profile Puerto Rico ID card rescue organizations clients pet email notifications phishing scams Orange County health care services documents executive order health care costs debt banking FSA https :// 20 year anniversary Wells Fargo customers prescription eyeglasses gap insurance FEMA website phone companies California Lions Friends tax season 401K settlement options home break-ins trust Asset Planning estate Open Enrollment Fox News story non-prescripstion sunglasses card reader insurance policy retirement accounts home security toilet paper 2018 IRA contributions 2017 TD Ameritrade National LINC Conference assets Erin Nelsen insurance policies fun atmosphere Medicare Part B retirement planning driver license Federal Trade Commission website offering insurance credit score flash drive account numbers portal retirement plans IRS deadline Affordable Care Act April 11 team members news coverage phone Two-Step Verification increase information Facebook trustee credit freeze chip-enabled EMV cards emergency kit Orange County Superior Court family members Social Security Administration items April 18 2017. check lists Financial Planning Magazine car loans June 29 text messages cell phone carriers money Healthcare blog post D premiums pets CFP ® home CERTIFIED FINANCIAL PLANNER exam privacy notices bottom line 70 1/2. illiegal robocallers VOIP landline phones credit cards vision screening self-help topics EEChecklist-Kits.pdf stockpilingchecklist.pdf life saver tax deadline phishing sites privacy settings summer Shred paperwork president Trump Mobile Banking Security Tips 23 andme contribution limit Medicare plan emergency kits Medicare question Charles Schwab cell phone provider Auto insurance home emergency kit hurricane Dorian web address fun facts Notary Public Social Security Ice Cream Social Flexible Spending Account February 14 identity theft credit card fraud policy Medicare Amazon notary services investment statements credit monitoring service July 4 April 15 information interest rates people medications cell phone service provider Retirement Contribution Limits