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| Accounting & Tax Solutions, Inc. is a full service tax, accounting, and business consulting firm located in Lakewood, CO and serving Arvada, Lakewood, Wheatridge, Golden, Littleton, Morrison, Denver, Highlands Ranch, Englewood, Centennial, Aurora, Greenwood Village, Westminster, Thornton, Northglenn, Broomfield, Commerce City, and Brighton. See our Services pages for detailed information, call 303.232.8300 or click to Schedule an Appointment. |
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Tax Tip: (November 29, 2011)
Retirement and Contributions for 2012
Benefit Plans: Several key ceilings on retirement plans will be higher next year: The maximum 401(k) contribution rises to $17,000 in 2012, up $500 over this year. Individuals born before 1963 can put in as much as $22,500. The contribution limits apply to 403(b) and 457 plans as well. The ceiling on SIMPLEs will remain $11,500. Folks age 50 or older in 2012 can put in an additional $2,500.
Plan contributions can be based on up to $250,000 of salary next year. The payin limitation for defined contribution plans increases to $50,000 in 2012. That's a $1,000 increase for Keogh plans, profit sharing plans and the like.
Contact Us or call today: 303.232.8300
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Let Accounting & Tax Solutions, Inc. help you navigate through the many regulations and nuances of the tax laws, to ensure that you receive the expert advice of a licensed tax practitioner: Contact Form
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office: 303.232.8300 address: 710 Kipling Street, Suite 205, Lakewood, CO 80215
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