MICHAEL J. CAPOBIANCO, AAMS, EA
BUSINESS & TAX CONSULTING
TEL/FAX: 347-374-4018
EMAIL: IBTAXMAN2@AOL.COM
This page was last updated: November 6, 2024
2025 PLAN CONTRIBUTION AND BENEFIT LIMITS
Quick Strategies to Improve Business Cash Flow
- Analyze Accounts Receivable, Consider charging late fees or offering early payment discounts to get cash in quicker
- Stretch Accounts Payable to the limit - take advantage of terms
- Use Caution with credit cards and lines of credit
- Review and reduce expenses
- Review and analyze revenues and increase where possible
We can assist with Budgetary & Cashflow Projections
TYPE 2025 2024 CHANGE
401K & 403B $23,500 $23,000 $ 500
CATCH-UP $7,500 $7,500 $ 0
457 DEFFERALS $23,500 $23,000 $ 500
IRA LIMIT $7,000 $7,000 $ 0
CATCH-UP CONTRIBUTIONS $1,000 $1,000 $ 0
ROTH AGI LIMIT MFJ $246,000 $240,000 $ 6,000
ROTH AGI OTHERS $165,000 $161,000 $ 4,000
SIMPLE PLAN LIMIT $16,500 $16,000 $ , 500
CATCH-UP CONTRIBUTIONS $ 3,500 $ 3,500 $
SS TAXABLE WAGE BASE $176,100 $ 168,600 $ 7,500
MAX OASDI TAX $10,930,18.20 $10,453.20 $ 465
SOCIAL SECURITY EARNINGS LIMIT UNDER FULL RETIREMENT AGE
$ 23,400 $ 22,320 $ 1,080
STANDARD DEDUCTION
SINGLE/MARRIED FILING SEPARATE $15,000 $14,600 $ 400
HEAD OF HOUSEHOLD/SURVIVING SPOUSE $22,500 $21,900 $ 600
MARRIED FILING JOINT/SURVIVING SPOUSE $30,000 $29,200 $ 800
ANNUAL FEDERAL GIFT TAX EXCLUSION $ 19,000 $ 18,000 $ 1,000
ESTATE TAX EXCLUSION (FEDERAL) $ 13,990,00 $ 13,610,000 $ 380,000
ESTATE TAX EXCLUSION (NEW YORK STATE) $ Pending $ 6,940,000 $ Pending
Disclaimer: Please verify the above prior to making any tax decisions.
