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Alexa, age 52, earns $500,000 a year as an employee.Her employer sponsors a SIMPLE IRA retirement plan and matches all employee contributions 100% up to
Alexa, age 52, earns $500,000 a year as an employee.Her employer sponsors a SIMPLE IRA retirement plan and matches all employee contributions 100% up to 3% of employee compensation. What is the maximum contribution (combined employee and employer) that can be made to her SIMPLE IRA plan in 2023? a.$28,900 b.$34,000 c.$30,500 d.$25,400
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
