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 contributions do not have income limits, but the income limits for a Roth IRA phases out for single filers between $116,000 to $131,000 ($183,000 to $193,000 for married) for 2015, unless you use a Backdoor Roth IRA.hich Order to Fund the Accounts. Ideally, youâd want to maximize contributions to both your 401k and your IRA. However, if you arenât saving the full amount, youâll have to determine which account is better for your money. Hereâs the strategy that Iâve always used when funding retirement accounts.