Regardless of the industry you're in, every business needs a way for customers to contact them. With an office of one, you may be able to get away with using just your local number, but as your business grows it's likely that your local number will no longer cut it and it will make sense to get an 800 number.
Yet there's a limit to how much you can put into an IRA every year. The limit on traditional IRA contributions for the 2018 tax year will be $5,500 for those younger than age 50, and $6,500 for those who are 50 or older. That's the same limit that's been in place for five years. If you make less than that amount from earned income from a job or self-employment, then your contribution is limited to your earned income.
The IRS recently released its 2015 update to income and contribution limits for Roth IRAs. As detailed below, the contribution limits for a Roth IRA are unchanged for 2015âstill $5,500.The catch-up contribution for those 50 or older, which is not indexed for inflation, remains $1,000.The income limits to qualify for a Roth IRA, however, have risen. Here are the details.f you are 50 years of age or older before the end of 2014: The maximum contribution that can be made to a traditional or Roth IRA is $6,500 ($5,500 + $1,000 catch-up contribution). This limit can be split between a traditional IRA and a Roth IRA but the combined limit is $6,500.