Deferred compensation

[AB69]

How much each pay check should I put into my work deferred comp so that I pay the least amount of income taxes as possible?

[John-H2021]

Hello AB69,

I can't tell you how much to put into your defferred comp plan but I can tell you the more you put in the less taxes you will pay.

Since you didn't specify what kind of defferred comp plan you have, here is a link to the IRS page showing you the maximum amount you can contribute in 2022 to different types of plans.

 https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-o...).

This will give you the maximum amounts for regular contributions and and catch up contributions you are qualified for.

Thanks