Question
sean is a sole proprietor. He wants to establish a SEP IRA. His gross income from his business was $80,950. His expenses totaled $53,600. What
sean is a sole proprietor. He wants to establish a SEP IRA. His gross income from his business was $80,950. His expenses totaled $53,600. What is the maximum amount he can contribute to his SEP IRA for tax year 2020?
a) $6838
b.) $5084
c.) $14,250
d.) $11,400
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772
