What is the maximum amount she can contribute

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Question - Kathy is 60 years of age and self-employed. During 2018 she reported $502,000 of revenues and $100,500 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018?

Kathy is 60 years of age and self-employed. During 2018 she reported $504,000 of revenues and $100,800 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k) for 2018?

Kathy is 48 years of age and self-employed. During 2018 she reported $540,000 of revenues and $108,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)?

Reference no: EM132711288

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