Vacuum-assisted closure of a wound is a type of therapy to help wounds heal. Itâs also known as wound VAC. During the treatment, a device decreases air pressure on the wound.
Those limits are generally $5,500 for both the 2016 and 2017 tax years if you're under age 50, or $6,500 if you're 50 or older. However, there are additional restrictions on how much you can put in a Roth IRA if your income is above certain levels. Below, we'll look more closely at how Roth IRA contribution limits work -- and how some taxpayers can get around them if necessary. Image source: Getty Images. How a high income can reduce Roth contribution limits for 2017 Some people are prohibited from making full Roth IRA contributions. In particular, if your income exceeds certain limits, then you won't be allowed to contribute the full amounts mentioned above.
Contribution Limits. Standard Roth IRAs have a contribution maximum of $5,000 per tax year per person. Individuals who earn less than $5,000 per tax year, however, can only contribute up to the amount of income they earned for the tax year.The maximum contribution amount is raised to $6,000 if the taxpayer is 50 years of age or older.ontribution Limits. Standard Roth IRAs have a contribution maximum of $5,000 per tax year per person. Individuals who earn less than $5,000 per tax year, however, can only contribute up to the amount of income they earned for the tax year.