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.
Traditional IRA Maximum. The maximum you may contribute to a traditional IRA if you are younger than 50 is $5,000 a year as of 2010. If you turn 50 at some point during the year, you may contribute up to $6,000. If your total taxable income is less than $5,000 -- or $6,000 if you are 50 or older -- then your income amount is the maximum you may contribute. Roth IRA Maximum The limits are the same for a Roth IRA as they are for a traditional IRA.