Written by Edward Jones; Sponsored by Scott Jordan

The new year brings more than resolutions – and there’s good news for retirement savers: You can put more into your IRA, 401(k) or other workplace plan this year compared to last year.

If you’re a high earner age 50 or older, catch-up contributions must now be made into a Roth account – for tax-free income later.

Health savings accounts also allow more in annual contributions.

When it comes to education savings, the withdrawal rate for 529 plans has doubled. And the list of qualifying expenses includes more options than before.

Charitable giving shifts too: Standard filers can deduct up to $1,000 in cash gifts, while itemizers face new thresholds.

Tax changes can be complex. Work with a qualified financial advisor and tax professional to build strategies that make the most of new opportunities while minimizing your tax burden.

This content was provided by Edward Jones for use by Scott Jordan, your Edward Jones financial advisor located in Louisa, VA.

Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.

Photo: Heather Hursh, Senior Office Administrator, and Scott Jordan, Financial Advisor, Call (540) 967-0372.

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