swsop
08-16-2006, 10:06 AM
Although some investors have begun asking about the 2007 investment
limits already, that figure won't be known until late October. For
the last several years, the annual limits have been set by a tax
reform law that boosted the allowable amounts over a schedule
outlined in that law. However, 2006 is the last year of the schedule
under that law and starting in 2007 and beyond, the policy will
revert to the former practice of being adjusted by the IRS according
to an economic measure. The maximum "catch-up" contributions allowed
for investors age 50 and older--currently $5,000--which also was
determined in recent years by a pre-set schedule, will be similarly
adjusted moving forward.
SWSOP
limits already, that figure won't be known until late October. For
the last several years, the annual limits have been set by a tax
reform law that boosted the allowable amounts over a schedule
outlined in that law. However, 2006 is the last year of the schedule
under that law and starting in 2007 and beyond, the policy will
revert to the former practice of being adjusted by the IRS according
to an economic measure. The maximum "catch-up" contributions allowed
for investors age 50 and older--currently $5,000--which also was
determined in recent years by a pre-set schedule, will be similarly
adjusted moving forward.
SWSOP