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Web{"jsonapi":{"version":"1.0","meta":{"links":{"self":{"href":"http:\/\/jsonapi.org\/format\/1.0\/"}}}},"data":{"type":"node--article","id":"33e657ea-7b83-40e0-979b ... WebDec 29, 2024 · The ED is 100% deductible and provides the main tax benefits. The PSP is 25% deductible, so $40,500 PSP divided by 25%-deductible equals a salary of $162,000. There is also a “catch-up provision” for taxpayers aged 50 and over of $6,500 for 2024 and $7,500 for 2024. The maximum contribution for those under age 50 is $61,000 for 2024 … WebFeb 23, 2024 · A 401 (k) is a retirement savings and investing plan that employers offer. A 401 (k) plan gives employees a tax break on money they contribute. Contributions are automatically withdrawn from ... chase goehring america\\u0027s got talent