Tag: Restrictions

Restrictions are an important part of any business. Restrictions help define limits, parameters, and expectations for employees, customers, and partners. Such restrictions maintain an organization’s or company’s winning culture, helping ensure its products and services are held to a high standard. Restrictions can also include industry- or government-mandated regulations, which must be adhered to for compliance purposes. By imposing parameters on all functions of the company, the organization can remain safe, successful, and ethical.

Categories: Income

roth ira Income Limits: Understanding the Restrictions

by Lena K. Bradley

A Roth IRA is a retirement savings account that allows individuals to save for retirement after-tax. The amount that can be contributed to a Roth IRA is limited by an individual’s income, filing status, and tax filing year. For 2021, single filers with Modified Adjusted Gross Income (MAGI) between $125,000 and $140,000 are eligible to contribute a reduced amount to a Roth IRA, while those with an income above $140,000 are not eligible. Joint filers with MAGI between $198,000 and $208,000 can contribute a reduced amount, while those making above $208,000 are ineligible for Roth contributions.

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