CAP Changes Coming in This Year

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.

Dana McBroom

Certified Public Accountant

About The Author

Dana joined Howard, Howard and Hodges in 1988 and became a partner in 2016. She holds a Bachelor of Science in Business Administration and an MBA from the University of Central Florida. She is a Certified Specialist in Estate Planning, Certified Specialist in Retirement Planning, Qualified 401(k) Administrator, and Certified Valuation Analyst, with experience in estates and trusts, retirement plans, income tax preparation and consulting, business valuations, mergers and acquisitions, and litigation support. Dana is a member of the AICPA and the Florida Institute of CPAs. A Seminole County native, she volunteers with Seminole County Schools and Northland Community Church, and serves on the Seminole County Port Authority and Central Florida Regional Hospital boards.