Asset Planning, Inc Blog

The latest from the team.

Retirement Contribution Limits for 2014

The Kiplinger Letter published a great summary of the changes to Retirement Contribution Limits and it is below:

 

“Several dollar ceilings on retirement plans are heading up this year:

  • The pay in limitation for defined contribution plans increases to $52,000.  That’s a $1,000 hike for Keogh plans, profit sharing plans, and similar arrangements.
  • Retirement plan contributions can be based on up to $260,000 of salary. 
  • And the benefit limit for pension plans is rising to $210,000 in 2014.
  • The income ceilings on Roth IRA pay ins go up.  Contributions phase out at AGIs of $181,000 to $191,000 for couples and $114,000 to $129,000 for singles. 
  • The deduction phase outs for pay ins to regular IRAs start at higher levels, from AGIs of $96,000 to $116,000 for couples and $60,000 to $70,000 for singles.  If only one spouse is covered by a plan, the phase out zone for deducting a contribution for the uncovered spouse begins at $181,000 of AGI and finishes at $191,000.
  • And the partial credit for retirement plan pay ins phases out at higher levels.  For marrieds…at over $60,000.  Household heads…$45,000.  Singles…$30,000.

Several key items won’t change.  The 401(k) pay in limit remains $17,500.  Folks born before 1965 can put in an extra $5,500.  Ditto for 403(b) and 457 plans.  The ceiling on SIMPLEs stays $12,000…$14,500 for folks age 50 or older this year.  Pay in caps for IRAs and Roths remain $5,500 plus $1,000 for anyone 50 and up this year.”

 

The Kiplinger Letter January 3, 2014

Normal 0 false false false EN-US X-NONE X-NONE

 

Continue reading
  1381 Hits
1381 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
asset Planning spread summer 2018 IRA contributions rescue organizations clients tax deadlines text messages stimulus package retirement plans credit card fraud president Trump Auto insurance ID card FSA health care services payments student loans DNA test kits fun atmosphere Ice Cream Social https :// Kiplinger Letter Coronavirus Aid spam phone Wells Fargo employees paperwork clutter phishing sites 401K EEChecklist-Kits.pdf stockpilingchecklist.pdf vacation home emergency preparedness kits money contribution limit notary services investment statements Charles Schwab disaster areas phone companies account numbers June 29 drive /usb phishing scams pets operations manager pet supplies IRS deadline Medicare Part B premiums policy privacy settings Retirement Contribution Limits Asset Planning Two-Step Verification Kraig Mathias September 30 2020. 4 pm -8pm Expired medications Brexit vote estate planning direction scams coronavirus borrowing money bottom line spring cleaning fun facts clone counterfeits Medicare Advantage Fox News story hurricane Dorian Supplemental Security Income Orange County Treasury Department Financial Planning Magazine July weekend web address Erin Nelsen https ://seekingalpha donation counts CA FTB home official certification VOIP landline phones Medicare plan Facebook profile IRS Medicare estate stock pile ice cream event business hours chip-enabled EMV cards cell phone carriers offer home security October 1 2020. vision screening 70 1/2. credit cards Shred paperwork Social Security Administration items credit card company driver license executive order FEMA website pet Mobile Banking Security Tips credit score September 9 retirement accounts 2017 Equifax breach Notary Public app cell phones padlock Part B gap insurance email notifications estate planning emergency kits July 3 rd illiegal robocallers emergency folder Affordable Care Act April 18 2017. CARES Act Medicare question Independence Day Legal robocalls tax season January 10 insurance policy blog post home break-ins breach memorial Day weekend Wells Fargo customers cell phone carriers 2017 TD Ameritrade National LINC Conference pet industry CERTIFIED FINANCIAL PLANNER exam California Lions Friends toilet paper clients show support consumer spending news coverage cell phone service provider debt tax returns water … Amazon Part D premiums . market turmoil identity theft Orange County Superior Court assets fees ice cream opt-out records people medications jury duty information Facebook company team members interest rates house sitter credit freeze trustee Economic Security COVID -19 virus interest settlement options “ skimmer ”. tax records increase credit monitoring service April 15 home mortgages Healthcare earnings fallout family members Joey Gonzales integral member Open Enrollment prescription eyeglasses health care costs information 20 year anniversary D premiums Puerto Rico life saver flash drive National Ice Cream month checklists 23 andme earthquake app check lists IRA accounts identity thieves car loans retirement planning Open House Medicare Part B holidays approach cell phone provider July 6 parking spots Flexible Spending Account tax filing deadlines retirement relief efforts CFP ® Social Security donation items September 8 TD Ameritrade wells Fargo Labor Day self-help topics February 14 card reader home emergency kit offering insurance Roth IRA client portal phone pet donation drive 900 number emergency kit privacy notices banking partner /owner documents years paper records 2017 IRA contributions markets Victor Dergunov non-prescripstion sunglasses trust portal Federal Trade Commission website April 11 tax deadline July 4 cell phone SIM swap scam insurance policies media accounts birth certificates