Cap Changes Coming in This Year

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  • Social security taxable wage limit is $128,700
  • Retirees can earn $17,040 without reducing their SS benefits
  • Annual gift amount goes to $15,000
  • HSA contributions are $3,450 for individuals
  • HSA contributions for a family plan is now $6,900
  • 401k deferral is $18,500 and $24,500 for those 50 and older
  • IRA contribution limit is the same as 2017 at $5,500
  • SIMPLE plans also remain the same as 2017 at $12,500

Be proactive and seek professional advice to navigate these upcoming cap changes successfully.

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