Financial Documentation
Official Limits, Rules & Sources
💍 Spousal IRA Rules
The Rule: Typically, you can only contribute to an IRA if you have "Earned Income" (wages, salary). However, there is a special exception for married couples filing jointly.
If your spouse does not work (or earns very little), you can contribute to a Spousal IRA for them, provided the household earned income is enough to cover contributions for both of you.
"Kay Bailey Hutchison Spousal IRA Limit. For 2023, if you file a joint return and your taxable compensation is less than that of your spouse, the limit on your IRA contributions is the smaller of: $6,500 ($7,500 if 50 or older), or The total compensation includible in the gross income of both you and your spouse for the year..."
Contribution Limits & Thresholds
We use official IRS data for 2026 and projections for 2027 based on inflation data.
| 401(k) / 403(b) / 457 | 2026 | 2027 |
|---|---|---|
| Employee Contribution Limit | $24,500 | $25,500 |
| Catch-Up Contribution (Age 50+) | +$8,000 | +$8,000 |
| Total Limit (Employee + Employer) | $72,000 | $73,500 |
| IRA (Roth & Traditional) | 2026 | 2027 |
|---|---|---|
| Contribution Limit | $7,500 | $7,500 |
| Catch-Up Contribution (Age 50+) | +$1,100 | +$1,100 |
| Health Savings Account (HSA) | 2026 | 2027 |
|---|---|---|
| Self-Only Coverage | $4,400 | $4,550 |
| Family Coverage | $8,750 | $9,050 |
| Catch-Up Contribution (Age 55+) | +$1,000 | +$1,000 |
| Standard Deduction | 2026 | 2027 |
|---|---|---|
| Single | $16,100 | $16,550 |
| Married Filing Jointly | $32,200 | $33,100 |
| Head of Household | $24,150 | $24,900 |
Official Sources & Notes
- Roth IRA Income Limits: High earners (~$153k+ Single / ~$242k+ Married) may not be eligible to contribute directly.Check IRS Limits. If you are over the limit, search for "Backdoor Roth IRA".
- 401(k) Limits: The limit applies to your pre-tax AND Roth 401(k) contributions combined. Employer matches do not count towards the $24,500 limit (for 2026), but do count towards the total $72,000 limit.
- Tax Year Validity: You can typically contribute to an IRA or HSA for the previous tax year until Tax Day (April 15).