Retirement Plans

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Contribution Limits and Catch Up Contributions

IRA Contribution Limits

Below is a chart that displays the maximum ira contribution limits for 2009 - 2010, as published by the Internal Revenue Service.

Establish a self directed IRA or real estate IRA, invest in real estate and continue to contribute to your retirement plan.

What are this year's IRA limits?

Traditional IRA Contribution Limits, Roth IRA Limits, Catch Up Contributions and IRA Rules

2009 - $5,000 plus $1,000 catch-up contributions if you are age 50 or over. (See Internal Revenue Service Publication 590 for more information.)

2010 - $5,000 plus $1,000 catch-up contributions if you are age 50 or over. (See Internal Revenue Service Publication 590 for more information.)

Roth IRA Contribution Limits and Modified Adjusted Gross Income Phase Out Ranges

Traditional IRA Deductibility Modified Adjusted Gross Income Limit

SEP IRA Contribution Limits and Catch Up Contributions

2009 - 25% of your wages (or up to 20% of your Schedule C income) up to a maximum of $49,000. IRA contributions can be made for 2009 up until your tax tax-filing deadline plus extensions. (See Internal Revenue Service Publication 560 for more information.)

2010 - 25% of your wages (or up to 20% of your Schedule C income) up to a maximum of $49,000. IRA contributions can be made for 2010 up until your tax tax-filing deadline plus extensions. (See Internal Revenue Service Publication 560 for more information.)

SIMPLE IRA Contribution Limits and Catch Up Contributions

2009 - $11,500 for salary deferral plus $2,500 catch-up contributions if you are 50, plus up to 3% of your salary matched by your employer (See Internal Revenue Service Publication 560.)

2010 - $11,500 for salary deferral plus $2,500 catch-up contribution if you are 50, plus up to 3% of your salary matched by your employer (Internal Revenue Service Publication 560.) 

Profit Sharing/401(k) Contribution Limits and Roth 401(k) Contribution Limits and Catch Up Contributions

2009 - $16,500 in salary deferral plus catch-up deferral of $5,500 if you are 50 or over plus 25% of your wages (or 20% of your Schedule C income) up to a maximum of $49,000. Salary deferral contributions for the self-employed (in addition to the employer profit sharing contributions) can be made if the tax return has been extended up until your tax-filing deadline for 2009.

2010 - $16,500 in salary deferral plus catch-up deferral of $5,500 if you are 50 or over plus 25% of your wages (or 20% of your Schedule C income) up to a maximum of $49,000. Salary deferral contributions for the self-employed (in addition to the employer profit sharing contributions) can be made if the tax return has been extended up until your tax-filing deadline for 2010.

Coverdell ESA Contribution Limits and Catch Up Contribution

Up to $2,000 per year can be contributed into a Coverdell Education Savings Account until the child is age 18, unless the child is special needs. (See Internal Revenue Service Publication 970 for more information.

Health Savings Account Contribution Limits and Catch Up Contribution

2009 - $3,000 for individual coverage and $5,950 for family coverage plus $1000 catch-up contribution if you are over age 55. (See Internal Revenue Service Publication 969 for more information.)

2010 - $3,050 for individual coverage and $6,150 for family coverage plus $1000 catch-up contribution if you are over age 55. (See Internal Revenue Service Publication 969 for more information.)