Question
Kathy is 60 years of age and self-employed. During 2018 she reported $514,000 of revenues and $103,500 of expenses relating to her self-employment activities. If
Kathy is 60 years of age and self-employed. During 2018 she reported $514,000 of revenues and $103,500 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018? (Round your final answer to the nearest whole number)
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Core Concepts Of Accounting Information Systems
Authors: Mark G. Simkin, Carolyn A. Strand Norman, Scott Paquette
1st Canadian Edition
1118738101, 978-1118738108
