Law Office of Williams & Associates, P.C.
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2018 - A Year to Give, A Year to Save

The IRS has announced two important changes in 2018 that will help you give, and help you plan for retirement. The IRS has increased the annual amount a taxpayer may gift to another person, free of estate or gift tax. After remaining at $14,000 for several years, the IRS has increased the amount in 2018 to $15,000 per year.

Additionally, the IRS has increased the amount a taxpayer may put into a retirement plan in 2018. This adjustment for inflation increases the limit for elective deferrals for 401(k), 403(b), and SEP plans to $18,500 in 2018.

For more information on IRS rate changes for 2018, click here.

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Law Office of Williams & Associates, PC
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