Traditional | Roth | Coverdell ESA | HSA | 401(k) | SIMPLE | SEP

Click each plan name for more information.

Traditional IRA*

Plan Types2023Deadline2024Deadline
Regular Limit**$6,500April 15, 2024$7,000April 15, 2025
Age 50 and Older Catch-Up Limit$1,000April 15, 2024$1,000April 15, 2025
* If you have Traditional and Roth IRAs or more than one Traditional IRA, your total maximum contribution to all IRAs is $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.
** Or 100% or earned income up to $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.

AGI TAX DEDUCTION PHASE-OUTSEarned Income 20232023 DeadlineEarned Income 20242024 DeadlineDeduction Limit
Married Joint Return: Spouse making contribution is covered by workplace retirement planUp to $116,000April 15, 2024Up to $123,000April 15, 2025Full
Between $116,000 – $136,000April 15, 2024Between $123,000 – $143,000April 15, 2025Partial
Over $136,000April 15, 2024Over $143,000April 15, 2025None
Married Separate Returns: Taxpayers covered by workplace retirement plans.Up to $10,000April 15, 2024Up to $10,000April 15, 2025Partial
Over $10,000April 15, 2024Over $10,000April 15, 2025None
Married taxpayer not covered by workplace retirement plan married to someone who is.Up to $218,000April 15, 2024Up to $230,000April 15, 2025Full
Between $218,000 – $228,000April 15, 2024Between $230,000 – $240,000April 15, 2025Partial
Over $228,000April 15, 2024Over $240,000April 15, 2025None
Unmarried: Covered by workplace retirement planUp to $73,000April 15, 2024Up to $77,000April 15, 2025Full
Between $73,000 – $83,000April 15, 2024Between $77,000 – $87,000April 15, 2025Partial
Over $83,000April 15, 2024Over $87,000April 15, 2025None
Unmarried: NOT Covered by workplace retirement planUp to $138,000April 15, 2024Up to $146,000April 15, 2025Full
Between $138,000-$153,000April 15, 2024Between $146,000-$161,000April 15, 2025Partial
Over $153,000April 15, 2024Over $161,000April 15, 2025None

Roth IRA*

Plan Types2023Deadline2024Deadline
Regular Limit**$6,500April 15, 2024$7,000April 15, 2025
Age 50 and Older Catch-Up Limit$1,000April 15, 2024$1,000April 15, 2025
* If you have Traditional and Roth IRAs or more than one Traditional IRA, your total maximum contribution to all IRAs is $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.
** Or 100% or earned income up to $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.
AGI TAX DEDUCTION PHASE-OUTSEarned Income 20232023 DeadlineEarned Income 20242024 DeadlineContribution Limit
Married Joint ReturnUp to $218,000April 15, 2024Up to $230,000April 15, 2025Full
Between $218,000-$228,000April 15, 2024Between $230,000-$240,000April 15, 2025Partial
Over $228,000April 15, 2024Over $240,000April 15, 2025None
Married Filing SeparatelyUp to $10,000April 15, 2024Up to $10,000April 15, 2025Partial
Over $10,000April 15, 2024Over $10,000April 15, 2025None
UnmarriedUp to $138,000April 15, 2024Up to $146,000April 15, 2025Full
Between $138,000-$153,000April 15, 2024Between $146,000-$161,000April 15, 2025Partial
Over $153,000April 15, 2024Over $161,000April 15, 2025None

Coverdell ESA

Plan Types2023Deadline2024Deadline
Contribution Limit (per beneficiary)***$2,000April 15, 2024$2,000April 15, 2025
Unmarried with AGI of $95,000 or belowFullApril 15, 2024FullApril 15, 2025
Joint filers with AGI of $190,000 or belowFullApril 15, 2024FullApril 15, 2025
Unmarried with AGI between $95,000 – $110,000PartialApril 15, 2024PartialApril 15, 2025
Joint filers with AGI between $190,000 – $220,000PartialApril 15, 2024PartialApril 15, 2025
Unmarried with of $110,000 and aboveNoneApril 15, 2024NoneApril 15, 2025
Joint filers with AGI of $220,00 and aboveNoneApril 15, 2024NoneApril 15, 2025
*** Companies may contribute to ESA’s (no income limit).

HSA

Plan Types2023Deadline2024Deadline
Maximum Contribution
Self-Only Coverage
$3,850April 15, 2024$4,150April 15, 2025
Maximum Contribution
Family Coverage
$7,750April 15, 2024$8,300April 15, 2025
Age 55 Catch-Up Limit****$1,000April 15, 2024$1,000April 15, 2025
HDHP Minimum Annual Deductible
Self-Only Coverage
$1,500April 15, 2024$1,600April 15, 2025
HDHP Minimum Annual Deductible
Family Coverage
$3,000April 15, 2024$3,200April 15, 2025
HDHP Maximum Out of Pocket
Self-Only Coverage
$7,500April 15, 2024$8,050April 15, 2025
HDHP Maximum Out of Pocket
Family Coverage
$15,000April 15, 2024$16,100April 15, 2025
**** If more than 1 person in the Family Plan is over 55 an additional account is required to make catch-up contribution.

401(k)

Plan Types2023Deadline2024Deadline
Elective Deferral Limit$22,500Deferred from last paycheck or December 31, 2023$23,000Deferred from last paycheck or December 31, 2024
Age 50 Catch-Up Limit$7,500Deferred from last paycheck or December 31, 2023$7,500Deferred from last paycheck or December 31, 2024
Defined contribution maximum deferral
(employer/employee combined)
$66,000April 15, 2024 or October 15, 2024 with extension$69,000April 15, 2025 or October 15, 2025 with extension

SIMPLE

Plan Types2023Deadline2024Deadline
Elective Deferral Limit$15,500Deferred from last paycheck or December 31, 2023$16,000Deferred from last paycheck or December 31, 2024
Age 50 Catch-Up Limit$3,500Deferred from last paycheck or December 31, 2023$3,500Deferred from last paycheck or December 31, 2024
Limitation on Compensation$330,000N/A$345,000N/A

SEP

Plan Types2023Deadline2024Deadline
Defined contribution maximum deferral
(employer/employee combined)
$66,000April 15, 2024$69,000April 15, 2025
Limitation on Compensation$330,000N/A$345,000N/A
Minimum Compensation$750N/A$750N/A

* If you have Traditional and Roth IRAs or more than one Traditional IRA, your total maximum contribution to all IRAs is $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.

** Or 100% or earned income up to $6,500 (2023) or $7,000 (2024), plus $1,000 if you are 50 or older.

*** Companies may contribute to ESA’s (no income limit).

**** If more than 1 person in the Family Plan is over 55 an additional account is required to make catch-up contribution.