Starting in 2007 you can earn more money and still be able to contribute to a Roth IRA. By Kimberly Lankford, Contributing Editor November 20, 2006 What will the Roth IRA income limits be for 2007? Will the contribution amounts remain the same?The Roth IRA income limits will increase moderately in 2007, but the contribution amount remains the same. You'll be able to contribute the full $4,000 per year to a Roth only if your adjusted gross income is less than $99,000 if single or $156,000 if married filing jointly (you can contribute up to $5,000 if you are 50 or older). You'll be able to contribute part of that amount if you're single and earning less than $114,000, or $166,000 if married filing jointly, and the amount phases out entirely above that level. Your adjusted gross income still must be below $100,000 to convert a traditional IRA into a Roth, but those rules will change in 2010. At that point, the $100,000 income limit disappears, and anyone will be able to convert traditional IRA money to a Roth. You'll still have to pay taxes on the whole conversion if you had only made tax-deductible contributions to the traditional IRA, or on the earnings for non-deductible contributions, but any gains after you move the money to a Roth will be tax-free in retirement. See What You Should Know About the New Tax Law for more information. Here are a few other saving-related limits that are changing in 2007: Advertisement You'll be able to contribute up to $15,500 to a 401(k), or $20,500 if you're 50 or older, as long as your employer doesn't limit your contributions to a lower percentage of income (see Limiting 401(k) Contributions for more information about the limits for highly compensated employees). Health savings account deductible requirements and contribution limits also will increase in 2007. Your health insurance policy must have a deductible of at least $1,100 for individual coverage or $2,200 for families in 2007 to qualify as an HSA-eligible policy. You can then contribute up to the amount of the deductible each year, with a maximum cap of $2,850 for individual coverage or $5,650 for families in 2007 (people age 55 and older can make an extra catch-up contribution of $800 in 2007). See Health Savings Account FAQs for more information about how these plans work. For information about other adjustments in 2007, see Sneak Peek at Tax Savings to Come. Got a question? Ask Kim at firstname.lastname@example.org.