Question
Please help me with this. Thank you. Kathy is 60 years of age and self-employed. During 2020 she reported $114,000 of revenues and $42,800 of
Please help me with this. Thank you.
Kathy is 60 years of age and self-employed. During 2020 she reported $114,000 of revenues and $42,800 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 SEP IRA for 2020? (Round your final answer to the nearest whole number.)
Multiple Choice
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$13,234.
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$17,166.
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$71,400.
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$55,400.
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Accounting Information Systems And Internal Control
Authors: Eddy Vaassen, Roger Meuwissen, Caren Schelleman
2nd Edition
0470753951, 9780470753958
