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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.
Traditional IRA Contribution Limits and Roth IRA Contribution Limits | 2009/2010 |
Up to age 50 | $5,000 |
| Catch Up Contributions Provision Age 50+ | $1,000 |
Total Contributions If Over Age 50+ | $6,000 |
You can contributions up to 100% of your compensation or a maximum of $5,000 ($6,000 if 50 and over. | |
Roth IRA Contribution Limits MAGI Phase-Out Ranges | 2009 | 2010 |
Single Individuals | $105,000 - $120,000 | $105,000 - $120,000 |
Married filing a joint income tax return | $166,000 - $176,000 | $167,000 - $177,000 |
Married filing separate tax returns | $0 - $10,000 | $0 - $10,000 |
Traditional IRA DeductibilityMAGI Limit | 2009 | 2010 |
Single - Active Participant | $55,000 - $65,000 | $56,000 - $66,000 |
Married active participant filing joint | $89,000 - $109,000 | $89,000 - $109,000 |
Married active participant filing separate | $0 - $10,000 | $0 - $10,000 |
Spouse of an active participant | $166,000 - $176,000 | $167,000 - $177,000 |
SEP IRA Contribution Limits | 2009/2010 |
SEP Employer Contribution Limits | Up to 25% of compensation, with a maximum of $49,000* |
SIMPLE IRA Contribution Limits SIMPLE 401(k) Contribution Limits |
2009/2010 |
Employee Elective Deferrals | Up to $11,500 |
Catch Up Elective Deferral Contribution Age 50+ | $2,500* |
Employer can elect from two different contribution methods. Check with your employer which option they have chosen. Employer contributions are in addition to your elective deferrals. | |
Profit Sharing/401(k) and Roth 401(k) Contribution Limits | 2009/2010 |
Employer Contributions | Up to $49,00 |
Employee Elective Deferrals | Up to $16,500 |
Catch-Up Elective Deferral Contribution Age 50+ | Up to $5,500 |
The employer can contribute up to 100% of your compensation, up to a maximum of $49,000. Compensation limits and deductibility apply so contact your employer for further information. | |
Coverdell ESA Contribution Limits | 2009/2010 |
Per year until the child is age 18, unless the child is special needs. | $2,000* |
Health Savings Accounts | 2009 | 2010 |
Definition of High Deductible Health Plans - Deductibles/Out of Pocket Limits | ||
Single Coverage - Minimum/Maximum | $1,150/$5,800 | $1,200/$5,950 |
Family Coverage - Minimum/Maximum | $2,300/$11,600 | $2,400/$11,900 |
Health Savings Account Contribution Limits | ||
Single Coverage | $3,000 | $3,050 |
Family Coverage | $5,950 | $6,150 |
Plus $1,000 catch-up contribution if you are age 55+. | ||
The Entrust Group does not offer investment, tax, financial or legal advice to clients. Individuals who believe they need advice should consult with qualified professional(s) licensed in that area. This section of our website is devoted to providing clients and potential client with educational information. It is in no way intended as tax advice.
Attend seminars, workshops and classes on self-directed IRAs in your area.
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