Tip: New IRA and 401(k) Limits for 2015

Published: Thu, 01/01/15

Happy New Year! Some things stay the same and others change. IRAs and 401Ks remain one of the best remaining tax shelters because they allow your money to grow tax-free. But the amount you can invest in them changes from year to year.

While planning your investments this year, it is helpful to know the 2015 IRA and 401(K) numbers:

IRA: $5,500
SIMPLE IRA: $12,500
401(k) or 403(b) or 457 plans: $18,000 plus and extra $6000 for the catch-up folks that are old.
SEP IRA or Solo 401(k) plan: $53,000

Here's to your success in the new year and always!

Lee Phillips

P.S. Get the keys you need to make this the best year yet! Come to our Boot Camp in Salt Lake City on March 9 and 10 to learn how to set up your business for maximum profit, minimum taxes, the best protection, and one-on-one consulting with our top law, financial, and tax planning experts.