Question: Problem 5-10 (Algorithmic) Simplified Employee Pensions (LO 5.4) During 2022, Jerry is a self-employed therapist, and his net earned income is $96,000 from his practice.

Problem 5-10 (Algorithmic) Simplified Employee Pensions (LO 5.4) During 2022, Jerry is a self-employed therapist, and his net earned income is $96,000 from his practice. Jerry's SEP Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Jerry's contribution. x Feedback Check My Work A Simpitfled Employee Pension (SEP or SEP IRA) is a retirement plan avaliable to any employer amount of contributions can change from year-to-year and can be zero. However, the maximur statutory percentage of the employee's compensation or an annual amount that is set each yea requirements for minimum age and years of service

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