Can I Do 2025 Taxes On Turbotax. Suppose you contribute another $7000 for 2025 on june 1, and you have to wait for june 15 to convert it, at which time it is worth $7020. For 2025, the amount individuals can contribute to their 401(k) plans will increase to $23,500, up from $23,000 for 2024.

On the review your estimates for 2025 screen. Here are 10 tax tips and steps you can take after january 1 to help you lower your taxes, save money when preparing your tax return, and avoid tax penalties.