Question
Kathy is 60 years of age and self-employed. During 2019 she reported $118,000 of revenues and $43,600 of expenses relating to her self-employment activities. If
Kathy is 60 years of age and self-employed. During 2019 she reported $118,000 of revenues and $43,600 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 2019? (Round your final answer to the nearest whole number.)
Multiple Choice
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$13,829.
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$17,170.
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$71,800.
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$55,800.
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Business Security Audit And Review Toolkit The Modern Toolkit For Security And Risk Professionals To Grow Their Business And For The Business Owners.
Authors: L Burke Files, Gamal Newry, Ibrahim Yeku
1st Edition
1674831315, 978-1674831312
