2023 Numbers

Question 1

2023 IRA contribution limits

Answer 1

$6,500 for those under age 50
$7,500 for those age 50+

2022 IRA contribution is allowed until the tax deadline in April. For 2022, the limits are $6,000 for those under age 50, and $7,000 for those age 50+.

Question 2

2023 529 contribution limits (annual gift tax exclusion)

Answer 2

$17,000 per parent per beneficiary
$34,000 per both parents per beneficiary

Question 3

2023 PSRP/MPPP contribution limits

Answer 3

$66,000 ($73,500 for age 50+) total :

$22,500 for employee contribution to PSRP ($30,000 for age 50+)
$42,900 for Firm contribution to PSRP/MPPP ($26,400 to PSRP, $16,500 to MPPP)
$600 for employee voluntary after-tax contribution to PSRP

Question 4

2023 PCBP contribution limits

Answer 4

$39,600 for all Partners

From $39,600 to $198,000 for Senior Partners based on their age

Question 5

2023 Lifetime gift and estate tax exclusion

Answer 5

$12.92 million (up from $12.06M in 2022)