13 Key Tax-Planning Issues For 2021 You Absolutely Need To Know

Maximize your employer-sponsored retirement plan

If your employer offers you a company retirement plan such as 401k, 403b or 457, this would be the moment to maximize your contributions. The maximum contribution for 2021 is $19,500, as it was in 2020. “At minimum, you should contribute up to the max that your employer matches your contributions, Chisholm suggests. “This should also lower your taxable income for the year.”

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