Thomas is a self-employed plumber under the age of 50. His earnings from self- employment, before the

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Thomas is a self-employed plumber under the age of 50. His earnings from self- employment, before the Keogh deduction but after deducting half of the self-employment tax, are $80,000. What is his deductible Keogh contribution for 2018?

a. $55,000.

b. $20,000.

c. $18,500.

d. $16,000.

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Related Book For answer-question

Fundamentals Of Taxation 2019

ISBN: 9781260158670

12th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Question Posted: Jun 03, 2019 06:06 AM

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Thomas is a self-employed plumber under the age of 50. His earnings from self- employment, before the

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Fundamentals Of Taxation 2019

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