Tag Archives: 401k Contribution Limit

More Tax Breaks For People Over 50

This article came from US News & World Report... After age 50, and especially at age 65, you can qualify for extra tax breaks. Older people get a bigger standard deduction, and they can earn more before they have to file a tax return at all. Workers over 50 can also defer or avoid taxes on…
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Should I Use A Roth IRA?

The Roth IRA first came about through the Taxpayer Relief Act of 1997, and is named after its chief legislative sponsor, Senator William Roth of Delaware.  The Roth IRA allows a taxpayer to contribute money that you've already paid taxes on (or, after-tax dollars) into an individual retirement account.  The money then grows TAX FREE…
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401K Contribution Limit For 2013

Get ready to save some more money!  For the second year in a row, the IRS has increased the 401K contribution limit by $500.  In 2013 the 401K contribution limit will be $17,500, pre-tax.  For 2012 the limit was $17,000, pre-tax.  Of course, your 401K contributions come out of your paycheck before you have taxes taken out.  This…
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