2006 Limits Released by IRS
The IRS recently released the following limits for 2006:

Retirement Plans
$ 15,000 Sec. 401(k) or SAR-SEP
$ 15,000 Sec. 403(b)
$ 15,000 Sec. 457(b)(2)
$ 5,000 Catch-up for age 50 or older
$ 10,000 Sec. 408(p)(2)(E) SIMPLE
$ 2,500 Catch-up for age 50 or older
$ 44,000 Defined Contribution Plans
$175,000 Defined Benefit Plans

Highly Compensated Employees
$100,000 Sec. 414 (q)(1) (B)
$140,000 Sec. 416 Key Employee/Top-Heavy

FICA Taxable Wage Base
$ 94,200 Social Security (Tax Rate 6.20%)
No limit Medicare (Tax Rate 1.45%)

HSA Annual Contribution Limits
$ 2,720 Individual
$ 5,450 Family
$ 700 Catch-up for age 55 or older

Min/Max out-of-pocket for HSA HDHP
$ 1,050 Minimum for individual
$ 2,100 Minimum for family
$ 5,250 Maximum for individual
$ 10,000 Maximum for family

Min/Max out-of-pocket for MSA HDHP
$ 1,800 Minimum for individual
$ 3,650 Minimum for family
$ 3,650 Maximum for individual
$ 6650 Maximum for family

Transportation
$ 105 Monthly transit and van-pooling
$ 205 Monthly parking

Standard Deductions
$ 10,300 Married, filing jointly
$ 7,750 Heads of Households
$ 5,150 Unmarried Individuals
$ 5,150 Married filing separately
$ 3,300 Personal exemption

Other Limits
$ 10,960 Adoption Credit
$ 11,300 Child Tax Credit

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