2024 Max 401k Deductions From Paycheck . 401 (k) contribution limits for 2024. Employees could contribute up to $22,500 to their 401(k) retirement savings plans for tax year 2023.
If you max out your 401 (k), you can deduct that. When you make a contribution to a traditional 401 (k), you can deduct that amount from your taxable income within that year.
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