Smart Money Tips

Year-End Deadlines and Important Information About 2023

We hope you and your family take time to relax and enjoy moments with one another while making memories. Put down the phone, close your laptop, and simply savor experiences with loved ones. We will do our best to take that same advice! 

If you would like us to process any of the below requests, please contact  by  December 14th to ensure proper processing time before year-end.

  • 2022 Roth Conversions.
  • Exercising stock options for 2022 tax year.
  • Harvesting capital gains or losses on stocks, ETFs, mutual funds, or bond positions.
  • 401(k) and 403(b) contributions via payroll.
  • Flexible Spending Account distributions.
  • Contributing to a Donor Advised Fund or performing a Qualified Charitable Distribution (QCD) directly from your IRA, if eligible.
  • Taking Required Minimum Distributions (RMD) (unless you turned 72 this past year, you may wait until April 1st).
  • You have until April 15, 2023 to make 2022 contributions to your Heath Savings Accounts (HSA) and Individual Retirement Accounts (IRA).

New 2023 Contribution Limits.

401(k), 403(b), and some 457 plans

  • $22,500
  • $7,500 catch-up contribution if over age 50


  • $6,500
  • $1,000 catch-up contribution if over age 50


  • $3,850 self-only
  • $7,750 family coverage
  • $1,000 catch-up contribution if over age 50

One last thing – are you turning a key milestone age in 2023? 

If you are turning age 50… You may begin to make catch-up contributions to retirement plans.

If you are turning age 55… You may begin making catch-up contributions to HSAs and can potentially utilize early retirement distribution provisions, if applicable.

If you are turning age 70½ … You may begin making QCDs from your retirement accounts.

If you are turning age 72… You will now need to take RMDs from certain retirement accounts.

While this is a great time of the year to slow things down and focus on family, friends, and traditions, we also must be intentional about putting the bows on key money moves.

We wish all of you a very happy holiday season and look forward to serving you in 2023.

Our best,

Richard, Emily, Tracy, Danielle, Shona, and Kris