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2. Retired? Don't Overlook These Sweet Tax Breaks - AOL

   www.aol.com/retired-dont-overlook-sweet-tax...

   For the tax year 2024, the standard deduction for a single taxpayer under the age of 65 is $14,600. If you're 65 or older, you can increase that amount by $1,950 to $16,550.

3. Inherited 401(k) rules: What beneficiaries need to know - AOL

   www.aol.com/finance/inherited-401-k-rules...

   If you are withdrawing from a Roth 401(k) or converting it into a Roth IRA, there will be no tax implications as the money was contributed on an after-tax basis. If you convert a pre-tax 401(k ...

4. Retirees 65 and Older Eligible for Extra Standard Deduction ...

   www.aol.com/retirees-65-older-eligible-extra...

   A married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) plus $1,500 for one 65+ adult plus $1,500 for second 65+ adult — a total of $30,700.

5. Stepped-up basis - Wikipedia

   en.wikipedia.org/wiki/Stepped-up_basis

   A stepped-up basis can be higher than the before-death cost basis, which is the benefactor's purchase price for the asset, adjusted for improvements or losses. Because taxable capital-gain income is the selling price minus the basis, a high stepped-up basis can greatly reduce the beneficiary's taxable capital-gain income if the beneficiary ...

6. Taxes 2024: The 4 Most Overlooked Breaks for Taxpayers Older ...

   www.aol.com/taxes-2024-4-most-overlooked...

   For tax year 2024, the contribution limit for employees who participate in 401(k) and 403(b) programs, the majority of 457 retirement saving plans and the federal government’s Thrift Savings ...

7. 401(k) - Wikipedia

   en.wikipedia.org/wiki/401(k)

   They can be charged to the employer, the plan participants or to the plan itself and the fees can be allocated on a per participant basis, per plan, or as a percentage of the plan's assets. For 2011, the average total administrative and management fees on a 401(k) plan was 0.78 percent or approximately $250 per participant. [ 49 ]

8. Tax breaks after 50 you might not know about - AOL

   www.aol.com/finance/tax-breaks-after-50-you...

   Here are additional 2025 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,600 per person over 65 ...

9. Employer matching program - Wikipedia

   en.wikipedia.org/wiki/Employer_Matching_Program

   Under this act, the employees are not taxed on the portion of income they agree to receive as deferred compensation rather than direct cash payment. [10] Nearly two-thirds of plans provide employer matching contributions today. The employer matching program is any potential additional payment to an employee's 401(k) plan.