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.
Contribution Limits vs. Deduction Limits. The maximum you can contribute to a traditional IRA depends on your age. For the 2015 tax year, the limit is five thousand five hundred dollars for those 49 and younger.If you turn 50 or older in 2015, then your upper limit raises to six thousand five hundred dollars.he rules governing your maximum IRA income limits for 2015 vary based on the type of IRA you have, your income and your filing status. Itâs important to note that this is not the same thing as your 2015 IRA contribution limits.