Question
Jessica is a self-employed Engineer whose 2021 net earnings from her business (before the H.R. 10 plan contribution but after the deduction for one-half of
Jessica is a self-employed Engineer whose 2021 net earnings from her business (before the H.R. 10 plan contribution but after the deduction for one-half of self-employment taxes) is $400,000. What is the maximum contribution that Jessica can make on her behalf to her H.R. 10 (Keogh) plan in 2021?
A) $100,000
B) $80,000
C) $70,000
D) $58,000
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Financial Accounting
Authors: Pauline Weetman
6th Edition
0273789252, 978-0273789253
