Year End Contribution Reminders

The end of the year is approaching fast! Here is some information to help in your tax planning and make the most of your retirement accounts. Although you can make 2014 contributions until April 15th or later on most accounts, note that Individual 401k and Roth Individual 401k accounts’ deadline is 12/31/14 or the date of your last paycheck.

Account type(s) Max Contibution

(under age 50)

Max Contribution

(over age 50)

Deadline for 2014
Roth & Traditional IRA $5,500 $6,500 4/15/15
SEP IRA $52,000 $52,000 4/15/15(plus extensions)
SIMPLE IRA $12,000 $14,500 4/15/15(plus extensions)
Indi & Roth Indi 401k $17,500 (employee)

$52,000 (employer)

$23,000 (employee)

$57,500 (employer)

Deferred from last paycheck or 12/31/14