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2024 Max 401k Deductions From Paycheck. In 2024, you can contribute up to $23,000 to your 401(k). Those 50 and older can contribute.

When you make a contribution to a traditional 401 (k), you can deduct that amount from your taxable income within that year. Use this calculator to see how increasing your contributions to a 401(k) can affect your paycheck as well as your retirement savings.