Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2018. What is the
Question:
Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2018. What is the maximum amount he can contribute to his SEP for the year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (19 reviews)
55000 2...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Business questions
-
Tony is a 45 -year-old psychiatrist who has net earned income of $300,000 in 2016. What is the maximum amount he can contribute to his SEP for the year?
-
In 2009, what was the maximum amount that an employee could contribute to a 401(k) plan?
-
In 2014, what was the maximum amount that an employee could contribute to a 401(k) plan?
-
You have three light bulbs; bulb A has a resistance of 240 , bulb B has a resistance of 192 , and bulb C has a resistance of 144 . Each of these bulbs is used for the same amount of time in a setup...
-
E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2013. Show how the bonds would...
-
Solve each system of equations. If the system has no solution, say that it is inconsistent. 3x = 24 x + 2y = 0
-
What is the present value of a stream of future values that include $200 now, $500 one year from now, $500 two years from now, and $500 three years from now? Assume a 10 percent discount rate.
-
Wood Crafts, Inc. is a manufacturer of furniture for specialty shops throughout the Northeast and has an annual sales volume of $12 million. The company has four major product lines: bookcases,...
-
FIN385 - Fall 2017 Spreadsheet Project #2 Ticker: ECL Template generated for: Company: Ecolab Inc. Fiscal Year Ending Assets Debt Shares Revenue EBIT Interest NetInc Stock Price Tax Paid Tax rate...
-
Consider the E-R diagram in Figure 7.29, which models an online bookstore. a. List the entity sets and their primary keys. b. Suppose the bookstore adds Blu-ray discs and downloadable video to its...
-
Which of the following statements with respect to a qualified retirement plan is not accurate? a. Self-employed individuals are eligible to be members of a SEP. b. Contributions to SIMPLE IRAs are...
-
What is the deadline for making a contribution to a traditional IRA or a Roth IRA for 2018? a. April 15, 2019 b. April 17, 2019 c. December 31, 2018 d. October 15, 2019
-
Determine the taxable income of each of the following dependents in 2018: a. Louis is 12 and receives $1,250 in interest income. b. Jacksonis 16. He earns $2,050 from his newspaper route and receives...
-
6. What are the two properties used for establishing similarity of edge pixels? 7. What is edge? 8. Give the properties of the second derivative around an edge? 9. Define Gradient Operator? 10. What...
-
14. Define pattern. , 15. Define pattern class. 16. List the three pattern arrangements. 17. Give the decision-theoretic methods. 18. Define the training pattern and training set. 19. Define training...
-
1. Write short notes on image segmentation. 2. Write short notes on edge detection 3.Write Short notes on edge linking by local processing.
-
4. Write short notes on the applications of artificial neural networks in image processing.
-
What are the functions of a finance manager of a small firm?
-
Interpret the quote in the context of what you learned about job-seeking. In todays competitive job market, its important to realize that finding a job is in itself a full-time job.
-
For the following exercises, rewrite the sum as a product of two functions or the product as a sum of two functions. Give your answer in terms of sines and cosines. Then evaluate the final answer...
-
Dori is 58 years old and retired in 2022. She receives a pension of $25,000 a year and no other income. She wishes to put the maximum allowed into an IRA. How much can she contribute to her IRA?
-
Mary has a Roth IRA held more than five years to which she has contributed $30,000. The IRA has a current value of $62,000. Mary is 55 years old and she takes a distribution of $40,000. How much of...
-
During 2022, Jerry is a self-employed therapist, and his net earned income is $160,000 from his practice. Jerrys SEP Plan, a defined contribution plan, states that he will contribute the maximum...
-
why should Undertake research to review reasons for previous profit or loss?
-
A pension fund's liabilities has a PV01 of $200 million. The plan has $100 billion of assets with a weighted average modified duration of 8. The highest duration bond that the plan can invest in has...
-
Metlock Limited has signed a lease agreement with Lantus Corp. to lease equipment with an expected lifespan of eight years, no estimated salvage value, and a cost to Lantus, the lessor of $170,000....
Study smarter with the SolutionInn App