The Retirement Saver's Credit Is Worth Up to $2,000 in 2024. Do You Qualify?
Planning for retirement can often take a backseat when you're juggling everyday expenses. However, if you can set aside some money in a retirement plan this year, the government will reward you with a tax credit if your income falls below a certain threshold. For 2024, you may be eligible for a Saver's Credit worth up to $2,000 when you contribute to a qualified retirement savings plan such as a 401(k) or Roth IRA.
Surprisingly, a survey found that only 47% of U.S. workers are aware of this credit. We'll break down the eligibility requirements and explain how the Saver's Credit works so you can take full advantage of this opportunity if you qualify.
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Source Fool.com
