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 are controlled by income restrictions. Married couples earning less than $173,000 in adjusted gross income for tax year 2013 can contribute the maximum annual contribution to their IRA.The maximum contribution for joint filers begins to phase out for couples earning more than $173,000 in 2013.he annual contribution limit is the maximum for all of your IRAs, and the amount of money you contribute to a traditional IRA is tax deductible in the year of your deposits, provided you meet the income requirements are your deduction is not phased out.