Phone : (269) 327-5250
E-mail : rcoffinger@usa-fs.com
Posted by Richard Coffinger Investments
Contribution Limits for 2011:
Traditional IRA $5000 AGE 50+ $1000 = $6000
Roth IRA $5000 AGE 50+ $1000 = $6000
401K & 403B $16,500 AGE 50+ $5500 = $22,000
SIMPLE IRA & 401K $11,500 AGE 50+ $2500 = $14,000
457 PLANS $16,500 AGE 50+ $5500 = $22,000
HSA SINGLE = $3050
HSA FAMILY = $6150
ARE YOU AWARE THAT IF YOU ARE MARRIED FILING A JOINT RETURN AND YOU TOTAL INCOME IS BELOW $69,000, YOUR CAPITAL GAINS ARE NOT TAXED!
IF YOU ARE 70 ½ OR OLDER YOU WILL NEED TO START TAKING REQUIRED MINIMUM DISTRIBUTIONS FROM YOUR RETIREMENT PLANS, SEE TABLE BELOW.
Source: All tax information courtesy of AllState at www.accessallstate.com.