401(k) Plans The contribution limit for employees who have a 401(k) plan is $23,000 in 2024. If you are 50 or older, you can contribute an additional $7,500. If you or your spouse do not currently have a401(k) planthrough your workplaces, you can ask if there are retirement pro...
Any legally married couple can opt to file their tax returns separately. The "married filing separately" status doesn't come with any tax penalties but you might miss out on some tax breaks and end up with higher taxes. Don't assume filing jointly is always the best option. Carefully consi...
There is an income limit to qualify for the LLC.15For 2024, single filers must have a MAGI of $80,000 or less, while married couples filing jointly must have a MAGI of $160,000 or less to receive the full credit. Single filers with a MAGI of up to $90,000 and married couples fi...
For those with self-employed income, the most common accounts are aSEP IRAor aSolo 401(k). The plans have the same contribution limit of $57,000 or 25% of what you pay yourself, whichever is lower. Contribution limits for the self-employed and small business accounts are per employee, so...