🚨Breaking Tax News🚨 Retirement-related inflation adjustments have just been released by the IRS. Key numbers for 2024 include... 🔸IRA contribution limit: $7,000 (⬆ $500) 🔸401(k) salary deferral limit: $23,000 (⬆ $500) 🔸Max SEP IRA contribution: $69,000 (⬆ $3,000) 🔸Max QCD: $105,000 (⬆ $5,000) 🔸Max one-time QCD to split interest entity: $53,000 (⬆ $3,000) 🔸IRA catch-up ($1,000), 401(k) catch-up (($7,500), max QLAC ($200,000) all remain unchanged all remain unchanged. For full list of adjustments, see: irs.gov/pub/irs-drop/n…
@CPAPlanner gotta include age 50+... but - that said; I would do roth ira, 401k roth up to match and PUMMEL a taxable account with MASSIVE dollars... accumulation is semi-easy my opinion only - ask Jeff about the complexity of withdrawal rates when retired, and how long it will last.
@CPAPlanner What is max for 401k + company match + employer mega back door Roth?
@CPAPlanner I love how you safe me a ton of work each year by doing this —thx!
@CPAPlanner Does the IRA contribution limit include Roth IRA?