The annual limit a person can contribute to an individual retirement account (IRA) is $5,500 per year. The elective contribution limit for employees who have a 401(k) plan, 403(b) plan, 457 plan, or federal thrift savings plan is $18,000 per year. The new income limit to be able to contribute to a Roth IRA is $184,000.
If you are having tax issues and would like some assistance, contact our law office at 816-524-4949 or www.Hoorfarlaw.com.