NEWSLETTER - Key numbers and dates for this first quarter!

Joseph Van Name |

Some New Numbers for 2022

For 2022 a few key numbers have changed based on inflation.


  1. The maximum 401k (and 403B/457) annual contribution is now $20,500 with a $6,500 catchup for those over age 50.  Remember to check if you are on a 24 or 26 pay period schedule when calculating your new deferral amount.  There has been no change for IRA and Roth IRA contribution amounts


  1. The maximum annual gift exclusion is now $16,000.


  1. For those age 72 and over, the factor that determines the percentage that you need to withdraw from your retirement accounts each year has been updated by the IRS. We will take care of this for all the accounts that we manage.


A few key dates for your 2021 tax documents.  We expect 1099-R IRA distribution forms to be available after January 15th, and the 1099’s for regular taxable accounts should be available at the end of February.


If you have any questions, please give us a call.