Maximum
Contributions to Retirement Plans
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Range
of Income for Phase-out
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Single
Taxpayers
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Married
Taxpayers
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| Regular
IRA |
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Deductible - No employer plan - 2007 |
$4,000
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(1) 100%
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......
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......
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......
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......
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Deductible - No employer plan - 2008 |
$5,000
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(1) 100%
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|
......
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......
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......
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......
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| |
Deductible - With employer plan - 2007 |
$4,000
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(1) 100%
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|
$52,000
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$62,000
|
$83,000
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$103,000
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|
Deductible - With employer plan - 2008 |
$5,000
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(1) 100%
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|
$53,000
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$63,000
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$85,000
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$105,000
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Non-deductible - 2007 |
$4,000
|
100%
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|
......
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......
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......
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......
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Non-deductible - 2008 |
$5,000
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100%
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......
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......
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......
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......
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| Roth
IRA |
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2007 |
$4,000
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(1) 100%
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|
$99,000
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$114,000
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$156,000
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$166,000
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|
2008 |
$5,000
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(1) 100%
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$101,000
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$116,000
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$159,000
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$169,000
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Phase-out for Married, Filing Separate |
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$0
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$10,000
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| 401(K) |
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2007 |
$15,500
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(2) 25%
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(3) |
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2008 |
$15,500
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(2) 25%
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(3) |
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| Keogh |
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Profit Sharing Keogh - 2007 |
$45,000
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100%
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(4) |
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Profit Sharing Keogh - 2008 |
$46,000
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100%
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(4) |
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Money Purchase Keogh - 2007 |
$45,000
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100%
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(4) |
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Money Purchase Keogh - 2008 |
$46,000
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100%
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(4) |
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Combination of 2 Keogh Plans - 2007 |
$45,000
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100%
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(4) |
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Combination of 2 Keogh Plans - 2008 |
$46,000
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100%
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(4) |
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| SEP |
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2007 |
$45,000
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25%
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(4) |
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2008 |
$46,000
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25%
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(4) |
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(1) Individuals reaching 50 years of age during
the year can contribute $1000 more in 2007 and in
2008.
(2) Individuals reaching 50 years of age during the year can
contribute $5,000 more in 2007 and in 2008.
(3) The maximum percentage includes any employer match.
(4) The percentage limitation is applied to self-employment income
reduced by one-half of the self-employment tax deduction and the
amount of allowable contributions.
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