Signature Tax Event 2022 Deck FINAL | Page 45

Retirement Updates

• 401 ( k ) s , 403 ( b ) s and other workplace retirement plans

You have until December 31 st to contribute 2022 max contribution limits – $ 20,500 ( extra $ 6,500 for those over 50 ) 2023 – Increases to $ 22,500 with $ 7,500 catch-up contributions

• IRAs

You have until April 18 , 2023 to contribute 2022 max contribution limits – $ 6,000 ( extra $ 1,000 for those over 50 ) 2023 – Increases to $ 6,500 and $ 1,000 catch-up remains the same

• Contribute to a Health Savings Account ( HSA )

• Consider converting a traditional IRA to Roth IRA