2024 Tax Adjustments
Every year, federal agencies like the Internal Revenue Service and Social Security Administration assess the impact of inflation and the current environment on their areas of oversight. Often, this results in cost-of-living adjustments (COLA), which change many tax thresholds, retirement contribution limits and other tax-advantaged plans that are inflation-adjusted by law. To help you plan for the new year, here are key 2024 adjustments that could affect how you save, spend and invest.