2024 Max 401k Deduction

2024 Max 401k Deduction. For 2024, the irs limits the amount of compensation eligible for 401 (k) contributions to $345,000. For tax year 2024, employees can contribute up to $23,000.


2024 Max 401k Deduction

The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase.

2024 Max 401k Deduction Images References :