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. The contribution limits for the Roth and traditional IRAs are the same. For tax year 2013, for example, you could contribute up to $5,500 to your IRA, plus an additional $1,000 catch-up contribution if you reached age 50 or older by the end of the tax year.Deductibility.or Roth IRAs, there is no age limit. Income Limitations. One factor that determines whether you should fund a Roth or traditional IRA is your income, which dictates your eligibility to contribute to a Roth IRA. If your income exceeds certain limit, you may not contribute to a Roth IRA.