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The IRS lets you make 2024 IRA contributions until the tax deadline -- April 15, 2025. This is the deadline even if you request an extension to file your taxes. This is the deadline even if you ...
The good news for savers is that the income limits are climbing for IRAs. 2024 IRA contribution and income limits: What retirement savers need to know Skip to main content
The maximum amount allowed as an IRA contribution was $1,500 from 1975 to 1981, $2,000 from 1982 to 2001, $3,000 from 2002 to 2004, $4,000 from 2005 to 2007, $5,000 from 2008 to 2012, $5,500 from 2013 to 2018, and $6,000 from 2019 to 2022. In tax year 2023, the maximum amount allowed is $6,500. Beginning in tax year 2024, the limit is $7,000. [11]
The SEP IRA has a limit on the annual compensation that is used for figuring retirement plan contributions. For 2025, that limit is $350,000, an increase from $345,000 in 2024. That limit is ...
The standard IRA contribution limit is adjusted for inflation over time. For example, it increased from $6,500 in 2023 to $7,000 in 2024. However, the catch-up limit has been $1,000 for years and ...
The annual contribution limit for 2024 and 2025 is $7,000 for people under the age of 50, so if you have two IRA accounts, you could contribute $3,500 to each or in any other combination you like.