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The 2024 contribution limit for a Roth IRA or traditional IRA is $7,000. The 2024 contribution limit for a Roth 401(k) or Traditional 401(k) is $23,000. Note that for an IRA, you have until Tax Day of 2025 (April 15, 2025) to make any contributions for your 2024 taxes. For 2024, the FSA contribution limit is $3,200.
20 tax reduction strategies for high-income earners in 2024 Tax strategy is complex, and there are numerous ways of reducing taxable income depending on your situation. Here are 20 tax-efficient actions to consider when filing your taxes in 2024. Second homes used as residences may also qualify for environmental tax credits.
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