Eliza is a self-employed attorney with earned income from the business of $143,000 (after the ded...
Eliza is a self-employed attorney with earned income from the business of $143,000 (after the deduction for one-half of her self-employment tax). She has a profit-sharing plan (e.g., defined contribution Keogh plan). The maximum amount Eliza can contribute to her retirement plan in 2018 is $_______________.
Homework Answers
Answer :-
| Particulars | Amount |
| Income | 1,43,000 |
| contribution rate | 20% |
| Maximum amount in 2018 |
=1,43,000*20% =143000*0.20 =28600 |
The maximum amount eliza can contribute to her retirement plan in 2018 is $28600
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