Question: Help Save & En Submit Ken is a self-employed architect in a small firm with four employees himself, his office assistant and two drafters, all

Help Save & En Submit Ken is a self-employed architect in a small firm with four employees himself, his office assistant and two drafters, all of whom have worked for Ken full-time for the last four years. The office assistant earns $39,000 per year and each drafter earns $49.000 K's niet earnings from self-employment after deducting all expenses and one half of self-employment taxes) are $323 500 Ken is considering whether to establish an SEP plan and has a few questions. Assume that all the employees are at least 2 years old Only 25% of employee earnings Only $55,000 No contribution as Ken is not qualified to have an SEP Plan e. If Ken is required to contribute for his employees and chooses to contribute the maximum amount what is me maximum amount Ken can contribute for himself? (Hint Calculate the employee amounts first) Ignore any changes in Ken's self-employment tax Maximum comtion 0 BGM hip a
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