Hello,
My spouse's employer did not offer any 401k program, so she could not contribute to the retirement program through her employer. Is it possible to still contribute (for the year 2024) towards 401k and get tax benefit?
Or, is my only option to contribute to Traditional IRA and then get the deduction for year 2024? I see $7000 being the limit which appears pretty low compared to what she would have been able to contribute to 401k if offered through her employer.
Please let me know what are my best options to get some tax savings. Thank you in advance!
