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Roth advice IRAs $4,000 for singles, $8,000 for couples $95,000-110,000 for singles, $150,000-160,000 for joint filers Contributions are nondeductible, but earnings grow tax-free. You can contribute an extra $500 if you will be 50 or older as of advice 12/31/05. Spousal Deductible IRA $4,000 $150,000 to $160,000 If your spouse participates in a retirement plan at work but you do not, the joint AGI limits on a spousal IRA (for you) are $150,000 to $160,000. If advice you yourself already have another type of smText business retirement plan set up, such as a SEP or a 401(k), then your joint AGI phaseout is $70,000 to $80,000. An extra $500 can be added to the account annually if you will be age 50 or older at year end. Based on 2005 limits. *20% of self-employment income or 25% of compensation for employees. From SmartMoney.com. Copyright © 2005 SmartMoney.com.
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