Question
Hope is a self-employed taxpayer who turns 54 years old at the end of the year (2014). In 2014, her net Schedule C income was
| Hope is a self-employed taxpayer who turns 54 years old at the end of the year (2014). In 2014, her net Schedule C income was $120,000. This was her only source of income. This year, Hope is considering setting up a retirement plan. |
| What is the maximum amount Hope may contribute to the self-employed plan in each of the following situations? |
| a. | She sets up a SEP IRA. |
| Maximum Contributon ? |
| b. | She sets up an individual 401(k). |
| Maximum contribution ? |
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Audit Risk In The Operation Of EDF Financed Projects
Authors: Koffi Rufin Kouame
1st Edition
6205912651, 978-6205912652
