1. Leverage retirement account tax savings. The IRS has increased the amount of money you can set aside for certain retirement accounts in 2012. Traditional retirement accounts like 401(k)s and IRAs still offer some of the best tax savings in the Code. Contributions reduce taxable income when you make them, and you don’t pay taxes until you take the money out at retirement. The 2012 contribution limit for a 401(k) has increased from $16,500 (2011) to $17,000. Those 50 and older can make an additional “catch-up” contribution to their 401(k) of up to $5,500. The limit on an IRA contribution …