taxes

Project Description:

ken is a self-employed architect in a small firm with four employees: himself, his office assistant, and two other drafters, all of whom have worked for ken full time for the last four years. the office assistant earns $30,000 per year and each drafters earns $ 40,000. ken's net earnings from self-employment(after deducting all expenses and one-half of self-employment taxes)are $310,000. ken is considering whether to establish a sep plan and has a few questions:
a. is he eligible to establish a sep plan?
b. is he required to cover his employees under the plan? why or why not?
c. if his employees must be covered, what is the maximum amount that can be contributed on thier behalf?
d. if the employees are not covered, what is the maximum amount ken can contribute for himself?
e. if ken is required to contribute for his employees and chooses to contribute the maximum amount, what is the maximum amount ken can contribute for himself?
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Project Stats:

Price Type: Negotiable

Completed
Total Proposals: 13
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