Download
Edit
Share
What are ways people can reduce their tax bill?
Taxpayers can reduce their tax bill by maximizing contributions to their 401k or other retirement funds before the April 15 deadline, which provides pre-tax benefits for the 2024 tax season. This is a key opportunity that's still available. Additionally, given potential IRS staffing changes mentioned by Trump, including cutting staff or reassigning agents to border duties, it's advisable to file taxes as early as possible. Filing promptly ensures taxpayers receive assistance before any potential reduction in IRS services occurs.
People also ask
401k contribution limits 2025 IRS
how to reduce taxable income with retirement contributions
traditional vs roth 401k tax benefits
maximum 401k contribution tax deduction 2025
IRS rules for 401k tax savings strategies
TRANSCRIPT
Load full transcript
Transcript available and will appear here
Not in clip
0
0
04:03
From
Reducing Tax Bills: 401k Contributions and IRS Insights
CBS News·8 months ago
Answered in this video
Discover the right B-roll for your videos
Make sure to follow copyright rules.
Search for any video clip
Experience AI search that understands context and presents you with relevant video clips.
Try Finallayer for free
Discover more clips on FinalLayer
5 videos