Question
Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2023). In 2023, her net Schedule C income was
Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2023). In 2023, her net Schedule C income was $280,000. This was her only source of income. This year, Rita is considering setting up a retirement plan.
What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations?
A. She sets up a SEP IRA.
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Computerized Accounting With QuickBooks 2014
Authors: Kathleen Villani, James B. Rosa, Blanche Ettinger
1st Edition
0763860239, 9780763860233
