Catch-up retirement plan contributions can be particularly advantageous post-TCJA

November 21, 2018

Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions can be particularly advantageous if your itemized deductions for 2018 will be smaller than in the past because of changes under the TCJA. The additional contributions can reduce your taxable income and help make up for the loss of some of your itemized deductions. Contact us for more information. 508-679-5259.

 

 

Share on Facebook
Share on Twitter
Please reload

Featured Posts

The Transportation Deduction is another example of how simple structuring changes can maintain deductions removed by the 2017 tax act, formerly “the T...

New tax law hits commuter benefits....

January 3, 2018

1/1
Please reload

Recent Posts
Please reload

Archive