IRA Contribution Limits Increased

The IRS announced on October 18, 2012 cost of living adjustments applicable to dollar limitations for IRAs and other retirement plans.  For 2013, the IRA contribution limit is $5,500, up from the 2012 limit of $5,000.  The catch up contribution remains at $1,000 for taxpayers age 50 and over.  The IRA deduction phaseout begins at Read more about IRA Contribution Limits Increased[…]