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Jan 6, 2025
3:39:07pm
SwanSong All-American
Tax tip:Saver’s credit- married $46kAGI is 50%, remind your kids for tax file
20% and 10% tiers based on filing status and income

Many 401k plans have automatic enrollment so they could have been enrolled/401k contributions made in 2024 (like my 22 yr old) and he didn’t know, especially if just a PT job

Irs

Retirement Savings Contributions Credit (Saver’s Credit) | Internal Revenue Service

The Saver's Credit is a tax credit for eligible contributions to your IRA, employer-sponsored retirement plan or Achieving a Better Life Experience (ABLE) account.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-credit-savers-credit
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SwanSong
Previous username
VballDad
Bio page
SwanSong
Joined
Oct 19, 2014
Last login
Jan 7, 2025
Total posts
8,929 (10 FO)
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