- Traditional and Roth IRA: $5,500 for each individual; Additional $1,000 if you are age 50 and older.
- Contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $59,000 and $69,000.
- Married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $95,000 to $115,000, up from $92,000 to $112,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $178,000 and $188,000, up from $173,000 and $183,000.
- Roth IRA contributions begin phasing out at $178,000 for married couples. Contributions can not be made once income reaches $188,000 of income.
- Roth contributions for single filers are excluded with income of $127,000 and higher. Phase outs begin at $112,000 for singles and head of households.
- 401k & 403b plans: $17,500 for each individual; Additional $5,500 if you are age 50 and older.
- SIMPLE IRA contributions are $12,000. Catch-up contributions are limited to $2,500.
- You can put away up to 25% of gross income to a SEP IRA in 2013, with a cap at $51,000.
