The maximum contribution that can be made on behalf of an owner-partner in a Keogh defined contribution money purchase plan is:
A) The lower of 15% of net-self employment income or $54,000
B) The lower of 13.0435% of net-self employment income or $54,000
C) The lower of 20% of net-self employment income or $54,000
D) The lower of 25% of net-self employment income or $54,000
Correct Answer:
Verified
Q8: Under a qualified pension plan
I.The yearly earnings
Q13: A Keogh plan must be established as
Q17: The adjustment for three-fourths of the excess
Q20: Peter opened his IRA in 2003 and
Q25: A Keogh plan is a type of
Q25: Kathy and Patrick are married with salaries
Q26: Jose is an employee of O'Hara Industry
Q27: Posie is an employee of Geiger Technology
Q30: Sonya is an employee of Gardner Technology
Q32: Curtis is 31 years old, single, self-employed,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents