Quantcast
Channel: 20SomethingFinance.com
Viewing all articles
Browse latest Browse all 505

Act Fast – Your 401K Benefits May Be Slashed Next Year

$
0
0
If you haven’t been paying close attention, you may have missed the recent news that 401K tax deductions are possibly on the chopping block as part of the Trump/Republican tax cut plan – a plan that would give 80% of the tax cut value to the top 1% of income earners. The maximum 401K contribution deduction is currently set at $18,000 for 2017 and $18,500 for 2018. According to reports, the deductible amount could be cut as low as $2,400 per individual. What kind of an impact would this have? An individual making $60,000 per year (25% tax bracket) that Act Fast – Your 401K...

[Read the rest of the story at 20somethingfinance.com]

Viewing all articles
Browse latest Browse all 505

Trending Articles