Frank is a self-employed CPA whose 2016 net earnings from his trade or business (before the H.R.10 plan contribution but after the deduction for one-half of self-employment taxes)is $240,000.What is the maximum contribution that Frank can make on his behalf to his H.R.10 (Keogh)plan in 2016?
A)$66,250
B)$48,000
C)$53,000
D)$60,000

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The Answer of Frank is a self-employed CPA whose 2016 net earnings from his trade or business (before the H.R.10 plan contribution but after the deduction for one-half of self-employment taxes)is $240,000.What is the maximum contribution that Frank can make on his behalf to his H.R.10 (Keogh)plan in 2016?
A)$66,250
B)$48,000
C)$53,000
D)$60,000

Frank Is a Self-Employed CPA Whose 2016 Net Earnings from His