Determine the maximum contribution that can be made to a Keogh plan in each of the following cases. In all instances, the individual is self-employed, and the self-employment tax reduction has already been taken. Required: a. Self-employment income of $64,200. b. Self-employment income of $64,200 and wage income of $38,000. c. Self-employment income of $185,000. d. Self-employment income of $331,000. a. Maximum Keogh plan contribution b. Maximum Keogh plan contribution c. Maximum Keogh plan contribution d. Maximum Keogh plan contribution Amount

Determine the maximum contribution that can be made to a Keogh plan in each of the following cases. In all instances, the individual is self-employed, and the self-employment tax reduction has already been taken. Required: a. Self-employment income of $64,200. b. Self-employment income of $64,200 and wage income of $38,000. c. Self-employment income of $185,000. d. Self-employment income of $331,000. a. Maximum Keogh plan contribution b. Maximum Keogh plan contribution c. Maximum Keogh plan contribution d. Maximum Keogh plan contribution Amount

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 1BCRQ

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