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2019 Annual Limit Changes

Proactive tax planning throughout the year is the key to reducing taxes and maximizing your after-tax dollars for wealth accumulation. This is accomplished by applying changing tax laws to your specific situation. Each year the IRS provides updates to a number of key limits that impact tax deductions, contributions, and other deferrals throughout the year. Below are some of the more notable changes to the law.

Retirement Plans

Elective deferrals to 401(k), 403(b), 457 and SARSEP’s $19,000 annual limit with a $6,000 age 50+ catchup. Defined Contribution limit $56,000.

IRA and Roth IRA contribution limits are increased to $6,000 with a $1,000 age 50+ catchup

IRA deduction phaseout for active participants in a retirement plan

Single $64,000 – $74,000 Adjusted Gross Income (AGI)
Married filing jointly $103,000 – $123,000 AGI
Non-active participant married to active participant $193,000 – $203,000 AGI

Roth IRA phaseout

Single $122,000 – $137,000
Married filing jointly $193,000 – $203,000

Non–deductible IRA contributions – There is no income limit

Simple IRA $13,000 maximum contribution with an age 50+ catchup of $3,000

College Savings

Ohio allows a $4,000 deduction per beneficiary to a 529 college savings plan and the earnings will never be taxed so long as they are used for college expenses.

Estate and Gift Tax

Annual family gift tax exclusion $15,000
Estate and gift tax exclusion $11,400,000

Health Savings Account Contribution Maximum

Single $3,500
Family $7,000
Catch-up age 55 and older $1,000

Standard Deduction

Single $12,200
Married filing jointly $24,400
Blind and elderly additional deduction single $1,650 and married $1,300

Required Minimum Distributions

Individuals age 70½ or older may have as much as $100,000 a year transferred tax free from their individual retirement accounts (IRAs) to qualified charitable organizations.

For more information about the tax planning strategies we utilize, please visit us at or contact directly Rob Lemmons, CFP®, CPA, AIF at 513-984-6696.

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