Estate Tax Exemption – The exemption from Federal gift and estate taxes for people dying in 2026 is $15 million per individual.  

Gift Tax Annual Exclusion – The gift tax annual exclusion for gifts made in 2026 is $19,000 per recipient. 

Maximum Contribution to Qualified Retirement Plan – The maximum contribution an employee can make to a qualified retirement plan (such as a 401(k) or 403(b)) is $24,500.  If the employee is age 50 or higher, the employee may make “catch up” contributions of an additional $8,000 (for a total of $32,500).  For plans that allow it, an employee between the ages of 60 and 63 may contribute an additional $11,250 (for a total of $35,750).  If the employee’s prior-year FICA wages exceeded $150,000, the catch up contributions must be made to a Roth retirement account (such as a Roth 401(k) or Roth 403(b)).