Last week the IRS came out with 2023 Retirement Plans and FSA Contribution limits.
401K will be $22500 up from $20500 in 2022. The 401K catch up rises to $7500 from $6500 in 2023.
IRA will be $6500 up from $6000 in 2022. The IRA catch up remains at $1000.
Self Employed Individual 401K/SEP will increase to $66000 in 2023 with the catch up of $7500.
2023 Health FSA Contribution Cap rises to $3050 from $2850 in 2022.
Steve Sabel
The Payroll Factory
267-907-4179 cell
steve@prfusa.com
www.thepayrollfactory.com
