Money Talks

Happy New Year! Welcome to 2023. We’ll talk today about information you might need for this new year. We learn about new tax amounts; ways to save money, ways to get back lost money, and ways to win money. Our experts take questions concerning personal finance.2023$66,000 - Defined contribution plan (401k, 403b) total limit per participant $66,000 - SEP IRA contribution limit $22,500 - 401k, 403b, 457 contribution limit (Salary deferrals)$7,500 - 401k, 403b, 457 catch up$6,500 - IRA contribution limit$1,000 - IRA catch up $15,500 - SIMPLE IRA contribution limit$3,500 - SIMPLE IRA catch up$27,700 - Standard deduction (MFJ)$20,800 - Standard deduction (Head of Household)$13,850 - Standard deduction (Single, MFS)$44,625 - Taxable income limit for 0% long-term capital gains (single)$89,250 - Taxable income limit for 0% long-term capital gains (MFJ)$17,000 - Gift tax exclusion $Unlimited - Brokerage account contribution limit$160,200 - Social security wage base (No longer pay social securi