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Tax Planning 2022/ 2023 : Deductions


Thresholds & Planning

401 K Contribution

  • 2022: $20,500 catch up age 50>$ 6,500

  • 2023: $22,500 catch up age 50>$7,500


ROTH Contribution

  • 2022: $6,000 catch up age 50>$1,000

  • 2023: $6,500 catch up age 50>$1,000


HSA Contribution

  • 2022: Self-only $3,650 Family $7,300catch up age 55>$1,000

  • 2023: Self-only $3,850 Family $7,750catch up age 55>$1,000



Stock brokerage Contribution


  • No limits

IRA Contribution

  • 2022: $6,000 catch up age 50>$ 1,000

  • 2023: $6,500 catch up age 50>$ 1,000


Connect with Contact@2cherrytax.com


 
 
 

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