the appearance or semblance of truth; likelihood; probability: The play lacked verisimilitude. something, as an assertion, having merely the appearance of truth.
But, the Internal Revenue Service sets limits on how much you can contribute each year to an IRA. There are different limits for single taxpayers and married couples because the government recognizes a couple will likely need twice as much money to retire on than one person. Contribution Limits The maximum anyone under the age of 50 can contribute to an IRA is $5,000 per year. The maximum limit for couples is $10,000, and it doesn't matter if that comes from one person or both. IRS rules allow married couples to each make the maximum contribution even if one of the spouses didn't work that year or earn any income.
You have to set up the IRA separately for your non-working spouse. This means that the IRA is set up using your partnerâs Social Security Number, and name. With this set up, you can contribute $5,000 for your IRA and $5,000 for your spouseâs, resulting in a yearly contribution of $10,000.(Remember that contribution limits may rise in future years, along with inflation.).ith this set up, you can contribute $5,000 for your IRA and $5,000 for your spouseâs, resulting in a yearly contribution of $10,000. (Remember that contribution limits may rise in future years, along with inflation.).