Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

It's Not Too Late to Contribute to Your Company's Retirement Plan

Trying to save more? Trying to cut your taxes?

It’s not too late to make a tax-deductible contribution to your employer’s plan. Some companies allow you to change your 401(k) election each paycheck. However, some company plans only allow 1 change a year.

Elective deferrals to section 401(k), section 403(b), certain section 457 and Thrift Savings plans has increased from $18,500 to $19,000 for 2019. For these plans, the catch-up contribution for those 50 or older remains $6,000.

 

If you are enjoying my tax and finance tips and would like to buy me a beverage

https://www.paypal.me/richardponcpatip

Richard Pon CPA, CFP