You can contribute more to your retirement plan in 2013. The contribution limit for a 401(k) plan is $17,500 ($23,000 for those 50 and older). The SIMPLE limit increases to $12,000 ($14,500 for those 50 and older), and the IRA limit increases to $5,500 ($6,500 for those 50 and older). Contribute early in 2013 to maximize the tax-deferred growth in your plan.
For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at firstname.lastname@example.org