Answered

Welcome to Westonci.ca, your go-to destination for finding answers to all your questions. Join our expert community today! Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

eBook
Print Item
?
Tax Drill - Defined Contribution Keogh
Zack, a sole proprietor, has earned income of $85,000 in 2019 (after the deduction for one-half of self-
employment tax).
The maximum contribution Zack may make to a defined contribution Keogh plan is $
What i

Sagot :

Zack's maximum amount is $53,000 and the following can be defined in additional calculations:

  • Only owners, partnerships, and LLCs are given a Keogh pension plan and a flexible pension plan.
  • For 2015, the maximum contribution for Keogh's plan is $53,000.
  • In this question, Zack is the lone owner. It is therefore eligible for the Keogh plan and has a $53,000 maximum contribution.

Note:

This issue was based on the year 2015 when year changes also change.

Learn more:

brainly.com/question/6197869

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.