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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 58
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.
a) Self-employment income of $46,000.
b) Self-employment income of $46,000 and wage income of $30,000.
c) Self-employment income of $125,000.
d) Self-employment income of $260,000.
a) Self-employment income of $46,000.
b) Self-employment income of $46,000 and wage income of $30,000.
c) Self-employment income of $125,000.
d) Self-employment income of $260,000.
Explanation
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In all cases, the maximum Keogh contribu...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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