401k 2024 Tax Year Limit 2024

401k 2024 Tax Year Limit 2024. To keep in line with inflation, the irs has raised income thresholds for all tax brackets and increased the standard deduction. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024.

For tax year 2024, employees can contribute up to $23,000. In tax year 2023, you may contribute up to $6,500 to a roth ira, or $7,500 if you are 50 or older.