Broker Check

Contribution Limit Updates

December 08, 2021
Share |

As we approach the end of another year, it’s a good idea to review your tax-advantaged accounts and be sure you’re maximizing all opportunities for which you are eligible. Additionally, there have been adjustments to the limits for 2022, so now is the time to make adjustments to your automatic deferrals or contributions.

For those of you who are turning 50 or 55 this year, you may also be eligible for additional catch-up contributions to your employer-sponsored retirement plans or health savings account.

Please take note of these IRS limits for 2021 and 2022:

And be sure to talk to your CPA regarding your eligibility to make ROTH or IRA contributions. The contribution limits remain unchanged and you have until April 15th to make contributions for 2021.

As always, please feel welcome to call our office with any questions or concerns and to wrap up any end-of-year items such as charitable gifting, Roth conversions, or any other contribution or distribution needs.