Determine the maximum contribution that can be made to a Keogh plan in each of the following

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Determine the maximum contribution that can be made to a Keogh plan in each of the following cases. In all instances, the individual is self-employed, and the self-employment tax reduction has already been taken.

a) Self-employment income of $54,000.

b) Self-employment income of $54,000 and wage income of $30,000.

c) Self-employment income of $125,000.

d) Self-employment income of $290,000.

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Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

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Question Posted: Dec 26, 2019 12:12 PM

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Determine the maximum contribution that can be made to a Keogh plan in each of the following

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In all cases the maximum Keogh contribution is limited to the lesser of 56000 or 25 of earned income ...View the full answer

Fundamentals Of Taxation 2020 Edition

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