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Please check here often to view recent changes in the U.S. Tax Laws.
Updated: January 1, 2025
2025
2025 Retirement Contribution Limits:
| IRA (Regular & Roth) | $7,000 |
| IRA catch-up | $1,000 |
| 401(k)/403(b) | $23,500 |
| 401(k)/403(b) catch-up | $7,500 (ages 60-63: $11250) |
| SIMPLE | $16,500 |
| SIMPLE (25 or less employees) | $17,600 |
| SIMPLE catch-up | $3,500 (ages 60-63: $5,250) |
| SIMPLE catch-up (25 or less employees) | $3,850 (ages 60-63: $5,775) |
| SEP IRA/Solo 401(K) | $69,000 |
| Solo 401(K) Catch-up | $7,500 |
| The catch-up is for those that are 50 years old or older before the close of the tax year. |
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2025 Estate Tax Limits:
| Annual gift tax exclusion | $19,000 |
| Estate tax exemption | $13,990,000 |
2025 Mileage rates
Business: 70 cents/mile
Medical/moving: 21 cents/mile
Charitable: 14 cents/mile
2025 HSA contribution limits
Individual $4,300
Family $8,550
Catch-up $1,000
The catch-up is for those 55 years old or older before the close of the tax year.
2025 Nanny Tax threshold: $2,800
