19Negative
Serious
Neutral
Optimistic
Positive
- Total News Sources
- 16
- Left
- 3
- Center
- 4
- Right
- 3
- Unrated
- 6
- Last Updated
- 3 min ago
- Bias Distribution
- 38% Unrated
The IRS has announced several updates to retirement contribution limits for 2025, including an increase to $23,500 for 401(k), 403(b), and federal Thrift Savings Plan contributions, up from $23,000 in 2024. IRA contribution limits remain at $7,000, with a $1,000 catch-up for those aged 50 and older. Roth IRA income phase-out ranges have adjusted to between $150,000 and $165,000 for single filers and $236,000 to $246,000 for married couples filing jointly. Additionally, the IRS has revised federal tax brackets and increased the standard deduction for 2025, allowing single filers a deduction of $15,000 and married filers jointly $30,000. These adjustments follow the Social Security Administration's announcement of a 2.5% cost-of-living increase for benefits in January. Meanwhile, Canada's pension contribution limits have been updated with the Year's Maximum Pensionable Earnings set to $71,300 for 2025.
- Total News Sources
- 16
- Left
- 3
- Center
- 4
- Right
- 3
- Unrated
- 6
- Last Updated
- 3 min ago
- Bias Distribution
- 38% Unrated
19Negative
Serious
Neutral
Optimistic
Positive
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