2021 Annual Limits
This year brings some adjustments to the Retirement Plan contribution limits as well as phaseouts. The changes for 2021 include: Increase in defined benefit plan contributions to $58,000 (from $57,000) Increase in the maximum includible compensation to $290,000 (from $285,000) Increase in SEP participation limit $650 (from $600) Increase in IRA deduction phaseouts: for Single taxpayers to […]
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