Donna owns Conquest Deliveries, a sole proprietorship, which sponsors a qualified profit-sharing plan. The company will make a 25% of compensation contribution on behalf of each employee (including Donna) for the year. If Donna's net self-employment income is $175,000 and her self-employment taxes total $16,000, what is the maximum contribution to the profit-sharing plan on her behalf?

Answer rating: 100% (QA)

As given in the question Donna is selfemployed her contribu... View the full answer