Retire Wealthier Master Tax Strategies Now Effortlessly

Maximizing Retirement Contributions

Increasing your contributions to retirement accounts is another powerful strategy. For 2023, the IRS allows individuals under 50 to contribute up to $22,500 to their 401(k) plans, with an additional $7,500 catch-up contribution for those 50 and older³. Maximizing these contributions not only reduces your taxable income but also enhances your retirement savings.