Anthony (Tony) Winkels holds an MBA from The Wharton School of the University of Pennsylvania, and is Managing Partner at Fortis Wealth Management

Inflation Adjustments for Tax-Sheltered Retirement Plans

Inflation Adjustments for Tax-Sheltered Retirement Plans

Anthony Winkels
Anthony Winkels writes on Inflation Adjustments for Tax-Sheltered Retirement Plans

Retirement plan tax shelters provide investors with one of the most advantageous opportunities to build wealth by protecting capital gains, dividends, and interest from taxes and amplifying the powerful force of compound growth.  To adjust for inflation, the IRS has updated several key limits associated with tax shelters, including phase-out income levels for Roth IRA contributions and Traditional IRA deductions, after-tax 401(k) contribution limits, and compensation limits for SEP IRAs and Solo 401(k) plans.  Staying informed of IRS rules for retirement plans will help investors ensure that they are maximizing the benefits of tax-advantaged investing.

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- Anthony Winkels is Managing Partner and Wealth Advisor at Fortis Wealth Management

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