Important 2023 Benefit Limits

At Nextep, we know the end of the year brings taxes top of mind for many. It also may be easy to forget about 2023 benefit limits that can impact your taxes. 

Partnering with a PEO like Nextep means you can easily get all the details you need. Here is a cheat sheet of some key limits to note for benefits (some limits have had significant increases): 

 

2023 HSA Limits

$3850 EE Only

$7750 Family

$1000 55 or Older Catch-Up

 

2023 FSA Limits

Health FSA: $3,050

Max Rollover: $610

LPFSA Limit: $3,050

DCA for child care: $5,000

Parking Limit: $300

Transit Limit: $300

Check out our blog post for more information on the HSA and FSA 2023 benefit limits. You can also check out H&R Block’s article about how HSA affects your taxes.

 

2023 Retirement Limits

IRA Limit: $6500 

SIMPLE IRA Limit: $15,500

401k Limit: $22,500

401k Catch-Up Limit: $7,500

If you have questions about how benefit limits impact your taxes or tax return, please contact your financial advisor or CPA. 

 

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