What is the maximum amount she can contribute

Assignment Help Accounting Basics
Reference no: EM132711288

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

Questions Cloud

Determine whether John arrived at appropriate conclusion : Based on the results of the testing of controls outlined above, determine whether John has arrived at the appropriate conclusion
Explain anaerobic reactions in the api 20e test : 1. What piece of information about your unknown should you have prior to using the API 20E system?
How many years will take if is invested in an account : How many years will it take for K197,000 to grow to be K554,000 if it is invested in an account with a quoted annual interest rate of 8%
Community model with traditional school model : Write a minimum essay that compares the professional learning community model with traditional school model.
What is the maximum amount she can contribute : If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)
Environmental print be used to build pre-reading skills : How can environmental print be used to build pre-reading skills? Give an example of an environmental print and your proposed plan to use it.
Find the ending balances in accounts receivable : At the beginning of the current period, Rose Corp. had balances, Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts
Prepare cost of production report for the filling department : Prepare cost of production report for the Filling Department for January. If an amount is zero, enter "0". If required, round your cost per equivalent unit
People vary regarding their need to be helped : People vary regarding their need to be helped. Some want a lot of assistance, and others like to be independent.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd