Medical Savings Accounts- for 2023 the amount you can put away for a single individual is up to $ 3950.00, for a Family it is up to $7900.00.
Health Savings Accounts – for 2023 the amount you can put away for a single individual is up to $ 3850.00, for a Family it is up to $7750.00. There is also a catch-up at age 65 of up to $ 1000.00.
Does your employer have a Dependent Care Plan or a Plan for helping you pay your student loans?
Do you have a 401 k, at work or for your business? Maximum is $ 22,500.00, with a catch-up of up to $30,000.00. If it is your company as Sole-Proprietor a 401 k can also incorporate a profit-sharing plan and you can also do it for your employees.
The maximum Social Security Wage base this year is $160,000.00. Look at it this way if you have paid Maximum Social Security for 35 years, and you can now collect it will be $ 43,524.00 per year, for couples that is $ 87,048 a year.
Capital gains tax rates for 2023 are zero to $ 44,625.00 in income for someone single, $ 89250.00 married filing joint, Head of Household $ 59750.00. Single up to $ 492,300.00 is 15 percent, married it is up to $ 553851.00 and at 15 percent, Head of Household is up to $ 523,050.00 and at 15 percent.