The IRS has announced an increase to the amount individuals can contribute to their 401(k) plans in 2025, to $23,500, up from $23,000 in 2024.
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Some annual contributions remain the same. The limit on annual contributions to an IRA will remain at $7,000 and the IRA catch-up contribution limit for people 50 and over remains $1,000 for 2025.adjustments for 2025. For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024.
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