Question
FINANCE - RETIREMENT PLANNING Jordan owns and operates Jordan's Exotic Jouneys (JEJ), a sole proprietorship. JEJ sponsors a profit-sharing plan. Jordan had a net income
FINANCE - RETIREMENT PLANNING
Jordan owns and operates Jordan's Exotic Jouneys (JEJ), a sole proprietorship.
JEJ sponsors a profit-sharing plan.
Jordan had a net income of $150,000 and paid self-employment taxes of $20,000 (assumed) during the year.
Jordan has decided to make a 15% contribution for her employees for the year.
Assuming Jordan is over the age of 50, What amount will she contribute for herself to the plan for 2019?
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Principles of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter, Wajeeh Elali, Amer Al Roubaix
Arab World Edition
1408271583, 978-1408271582
