Ira Income Limits 2024 Irs. To understand how a solo 401 (k) works, think of contributing both as an employee of your company and as the employer. The irs recently announced the 2024 ira contribution limits, which are $500 more than the limits for 2023.

Limits on roth ira contributions based on modified agi. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older.