Important Tax Filing Dates and Contribution Limits

The 2024 federal income tax filing, payment and IRA contribution deadline is Tuesday, April 15, 2025.

2024 AND 2025 CONTRIBUTION LIMITS INFORMATION*

2024 Limit 2025 Limit Catch-Up Contribution
Traditional or Roth IRA $7,000 $7,000 $1,000
Simple IRA $16,000 $16,500 $3,500
SEP IRA Lesser of 25% of compensation or $69,000 Lesser of 25% of compensation or $70,000
401(k)/403(b)/457(b) Employee Contribution $23,000 $23,500 $7,500
HSA Contribution (Single) $4,150 $4,300
HSA Contribution (Family) $8,300 $8,550
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.