Question
Reggie is a self-employed taxpayer who turns 59 years old at the end of the year (2023). In 2023, his net Schedule C income
Reggie is a self-employed taxpayer who turns 59 years old at the end of the year (2023). In 2023, his net Schedule C income was $270,000. This was his only source of income. This year, Reggie is considering setting up a retirement plan. What is the maximum amount he may contribute to the self-employed plan in each of the following situations? Note: Round your intermediate calculations to the nearest whole dollar amount. a. He sets up a SEP IRA. Maximum contribution
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Taxation Of Individuals And Business Entities 2016
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
7th Edition
9781259425479, 125942121x, 1259334872, 1259425479, 9781259421211, 978-1259334870
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