Forfield does an excellent job of summarizing all the key tax numbers in this very condensed version of the most important tax numbers for personal tax filing. Please note that in 2012 the maximum amount you can add to your 401(k) has increased to $17,000 up from $16,500, so don’t forget to increase your contributions to adjust for this increase. The catch up for those over 50 years old remains the same at $5,500. For IRAs the limits have not changed, with a contribution limit of $5,000 and catch up provision of $1,000.Friday, February 3, 2012
2012 Key Tax Numbers
Forfield does an excellent job of summarizing all the key tax numbers in this very condensed version of the most important tax numbers for personal tax filing. Please note that in 2012 the maximum amount you can add to your 401(k) has increased to $17,000 up from $16,500, so don’t forget to increase your contributions to adjust for this increase. The catch up for those over 50 years old remains the same at $5,500. For IRAs the limits have not changed, with a contribution limit of $5,000 and catch up provision of $1,000.
