Important Tax Filing and IRA Contribution dates
The 2024 federal income tax filing, payment and IRA contribution deadline is Tuesday, April 15, 2025.
2024 AND 2025 IRA CONTRIBUTION INFORMATION*
| 2024 | 2025 | Age 50+ | |
|---|---|---|---|
| Traditional or Roth IRA | $7,000 | $7,000 | Additional $1,000 |
| Simple IRA | $16,000 | $16,500 | Additional $3,500 |
| SEP IRA | Lesser of 25% of compensation or $69,000 | Lesser of 25% of compensation or $70,000 |
Beginning in 2025, employees aged 60, 61, 62, or 63 who participate in workplace retirement plans can make additional catch-up contributions. Please consult you advisor for appropriate limits.
*Some restrictions and limitations may apply; we recommend you review your particular situation with your tax preparer.
If you have any questions, please feel free to reach out to us at team@thebiondogroup.com or call at (570) 296-5525.
