Here are a few recent tax changes for the upcoming 2015 tax year that you should be aware of:
- The annual contribution limit for 401(k)s, 457 plans, and thrift savings plans is $18,000;
- The catch-up contribution limit for taxpayers over age 50 is $6,000;
- The annual contribution limit for IRAs is $5,500;
- The definition of a highly compensated employee is anyone who earns over $120,000; If you are having tax issues, contact our law office at 816-524-4949.