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38. Christine is a self-employed graphics artist who has net earned income of $160,000 from her business. Christine has a defined contribution SEP Plan and
38. Christine is a self-employed graphics artist who has net earned income of $160,000 from her business. Christine has a defined contribution SEP Plan and plans to contribute the amount that provides the maximum deduction allowable.
a) How much can Christine contribute for 2018 tax year?
b) How much can Christine's employee contribute for 2018 tax year (Assume this employee has the same net earned income as Christine's)
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