401k plans are a great way to help reduce a taxpayer’s taxes. In this TaxAssurances YouTube video I give an example of how that works for an individual making $50,000 per year.
Also, here’s a helpful IRS website that provides more information on 401ks and how they help reduce a taxpayer’s tax liability. https://www.irs.gov/retirement-plans/plan-participant-employee/401k-resource-guide-plan-participants-401k-plan-overview
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