What are this year’s contribution limits? See below:

Roth and Traditional IRAs
• 2006 - $4,000 until April 15, 2007 plus $1,000 catch-up if you are age 50 or over
• 2007 - $4,000 plus $1,000 catch-up if you are age 50 or over. (See Internal Revenue Service Publication 590 for more information.)

SEP IRAs
• 2006 - 25% of your wages (or up to 20% of your Schedule C income) up to a maximum of $44,000. Contributions can be made for 2006 up until your tax tax-filing deadline plus extensions. (See Internal Revenue Service Publication 560 for more information.)
• 2007 - 25% of your wages (or up to 20% of your Schedule C income) up to a maximum of $45,000. Contributions can be made for 2007 up until your tax tax-filing deadline plus extensions. (See Internal Revenue Service Publication 560 for more information.)

SIMPLE IRAs
• 2006 - $10,000 for salary deferral plus $2,500 catch-up if you are 50, plus up to 3% of your salary matched by your employer (See Internal Revenue Service Publication 560 for more information.)
• 2007 - $10,500 for salary deferral plus $2,500 catch-up if you are 50, plus up to 3% of your salary matched by your (See Internal Revenue Service Publication 560 for more information.)

Profit Sharing/401(k)s
• 2006 - $15,000 in salary deferral plus catch-up deferral of $5,000 if you are 50 or over plus 25% of your wages (or 20% of your Schedule C income) up to a maximum of $44,000. 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 2006.
• 2007 - $15,500 in salary deferral plus catch-up deferral of $5,000 if you are 50 or over plus 25% of your wages (or 20% of your Schedule C income) up to a maximum of $45,000. 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 2007.

Coverdell ESAs
• $2,000 per year until the child is age 18, unless the child is special needs. (See Internal Revenue Service Publication 970 for more information.)

Health Savings Accounts
• 2006 - $2,700 for individual coverage and $5,450 for family coverage plus $700 catch-up if you are over age 55. (See Internal Revenue Service Publication 969 for more information.)
• 2007 - $2,850 for individual coverage and $5,650 for family coverage plus $800 catch-up if you are over age 55. (See Internal Revenue Service Publication 969 for more information.)

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